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“#LG to stop making smartphones after years of losses” Electronics giant LG plans to stop making smartphones after struggling for years to compete in a market where it was once a leading player. The South Korean conglomerate will shut down its mobile phone business and exit the “incredibly competitive” industry by July 31, it announced…
“# Kimchi premium hits 11% — Is Bitcoin now in a 2017-esque retail stage of the cycle? ” The price of Bitcoin (BTC) is continuing to range between $56,000 and $60,000, as the so-called “Kimchi premium” is surging to yearly highs. Kimchi premium forms when Bitcoin is trading at a higher price in South Korea…
“# South Korean gov’t makes $10.5M profit from 4-year-old Bitcoin crime haul ” South Korean prosecutors have finally sold a Bitcoin (BTC) haul they confiscated from a criminal in 2017 and it’s worth $10.5 million more than it was at the time of the arrest. The cash has reportedly been deposited in the coffers of…
“# South Korea will use blockchain to prevent counterfeit vaccine passports ” South Korea, which has begun its COVID-19 vaccine rollout for residents over 75 years of age, has revealed plans to use blockchain technology to certify forthcoming vaccine passports for immunized citizens. According to Reuters, Prime Minister Chung Sye-kyun told a government meeting that…
“# South Korea to launch blockchain-based vaccine passports ” South Korea will introduce blockchain-powered vaccine passports via a smartphone app later this month, the country’s prime minister said Thursday. South Korea is joining a number of other nations in introducing vaccine certificates that enable cross-border travel while mitigating the risk of infections. Prime Minister Chung…
“# South Korea’s ‘Kimchi premium’ is back: Is the Bitcoin rally starting to heat up? ” The “Kimchi premium” is back. Bitcoin (BTC) is trading by more than 6% higher across major South Korean crypto exchanges as of March 29. Data from CryptoQuant show that the premium in the South Korean market was non-existent for…
“# South Korea faces strict crypto regulation and fears of centralization ” From real-name account trading to investigating individuals using cryptocurrencies to evade taxes, government officials in South Korea are enacting stricter regulations to oversee the cryptocurrency industry in the country. These measures often require digital currency businesses to provide detailed customer data and transaction…
“# Experts say new South Korean crypto rules will create a monopolized market ” South Korea is heading into a new period for its crypto industry, with stringent new rules coming into effect on March 25 that will require all cryptocurrency businesses to comply with new crypto reporting regulations and registration rules. As an article from the…
“# OKEx Korea crypto exchange to shut down as new reporting laws take effect ” The South Korean branch of global cryptocurrency exchange OKEx is shutting down operations next month, OKEx Korea officially announced Tuesday. Users will have to withdraw their Korean won and crypto holdings by April 7. After that date, the exchange “will…
“# South Korean internet giant Naver reportedly joins Bithumb stake race ” Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb. Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several…