South Korea Archives

Kim Young-san Appointed CEO of Grand Korea Leisure

August 23, 2021

Grand Korea Leisure (GKL), South Korea’s state-controlled, foreigner-only casino operator, has announced the appointment of Kim Young-san as its new CEO. Kim, who will serve an initial term of three years, r...

Grand Korea Leisure Falls To US$15 million Loss in Q2

August 15, 2021

South Korean foreigner-only casino operator Grand Korea Leisure reported a 43.8% year-on-year increase and more than 500% sequential quarterly increase in casino sales in 2Q21 to KRW32.98 billion (US$28.4 mil...

Smaller South Korean Crypto Exchanges Begin to Shutdown, Suspend Services

August 3, 2021

A number of smaller South Korean crypto exchanges have announced their imminent closure – throwing in the towel in their struggle to meet a fast-approaching regulatory deadline that is threatening to derail t...

South Korea’s FSC Could Join Other Regulators Stance towards Binance

July 5, 2021

The Financial Services Commission (FSC) from South Korea is planning to follow the same path as other regulators globally towards Binance, a major cryptocurrency exchange, by setting a deadline to register it...

South Korean Energy Company to Audit Companies Suspected of Mining Cryptos

June 12, 2021

KEPCO, the South Korean state energy company, announced that it would start overseeing and auditing companies that it suspects of using industrial and agricultural electricity for cryptocurrency mining. Accor...

South Korea Sees Leveraged Crypto Trading as a Threat to Banking

May 27, 2021

The South Korean central bank has sounded an alarm against the leveraged cryptocurrency trading, which is becoming popular among retail traders and might threaten the country’s financial system, The Korea Heral...

South Korean Crypto Exchange Daybit to Shutter, Cites Harsh Laws

April 26, 2021

South Korean cryptocurrency exchange, Daybit is shutting its local operations, citing the harsh requirements of the anti-money laundering laws, The Korea Herald reported on Sunday. The exchange, which is ope...

South Korea to Launch Crackdown on Illegal Cryptocurrency Transactions

April 19, 2021

“No illegal cryptocurrency transaction in the country,” South Korean officials announced on Monday after a detailed meeting about the volatility in the cryptocurrency market and the potential use of digital ass...

Crypto Beats Stock Trading in South Korea

March 15, 2021

The crypto market cap reached $1.8 trillion on Sunday after Bitcoin crossed $60,000 for the first time in history. Crypto trading is booming in Asia as retail and institutional traders are pushing the trading...

Bithumb Acquisition: Vidente Debunks Claims on Nexon Partnership

January 8, 2021

Vidente, a major shareholder in Bithumb Korea, has officially denied the reports of a possible takeover of the South Korean cryptocurrency exchange by gaming giant, Nexon. As reported by The Korea Times, Vid...