The recent decision to exclude South Korean cryptocurrency exchanges from the proposed tax benefits for “New-Growth Technologies” has been met with significant backlash from three leading blockchain associations. Controversial proposal The South Korean Ministry of Small and Medium-sized Enterprises (SMEs) has ruled that cryptocurrency trading platforms are to be treated in the same ilk as […]
The South Korean government will invest over $880 million next year in order to boost the development of innovative technologies including blockchain.
The South Korean Ministry of Economy and Finance has announced that the government will be investing KRW 5 trillion (USD 4.4 billion) into innovative industries in 2019, including blockchain technology. Major increase The press release from 13 August, ‘Growth through Innovation Investment Plan’, reveals the rationale behind a KRW 2 trillion increase in investment from […]
South Korea will invest heavily in emerging technologies in 2019, one of which is blockchain technology. The move was announced by the country’s Finance Minister, Kim Dong-yeon, during a recent cabinet meeting. As part of its plan to spearhead innovative growth, the government will invest $4.4 billion in eight sectors which it views as critical […]
Several blockchain associations in South Korea are pushing back against a government proposal they fear will stifle industry innovation.
The South Korean island of Jeju sees itself as a potential crypto haven and has requested that the government allows it special crypto zone status. The island’s governor made the request at a meeting with Kim Dong-yeon, Korea’s finance minister and deputy prime minister for the economy, and other government officials in an attempt to […]
South Korea government says crypto exchanges will be excluded from legislation governing venture businesses
Over the next five years, the South Korea government wants to pump almost $5 billion into blockchain, among other technologies
In the old days, people invested in gold as a store of wealth as its value was universal and largely stable. However, cryptos changed the game and attracted a lot of investment which otherwise would have gone to gold. But what if you could merge the two? This was the promise that swayed many investors […]
South Korea has announced plans to launch a blockchain-focused training initiative targeted at emerging talent from the country’s younger demographic. The young participants will benefit from a six-month blockchain and technology training course covering a variety of emerging sectors, with the primary goal being stated at decreasing youth unemployment while matching individuals with job opportunities […]
The South Korean Blockchain Enterprise Promotion Association (BEPA) is demanding for the government to speed up blockchain and cryptocurrency adoption and regulation efforts. Time for urgency A report from a local news outlet, Korea Joongang Daily, has said that the association filed this demand to curb the government’s focus on “negative short-term side effects” and instead […]
South Korean police have raided the office of a local firm whose alleged crypto scam promised investors the spoils of a sunken Russian warship
The recently launched Korea Blockchain Enterprise Promotion Association has called on the state to get a move on crypto and blockchain regulation
Around 75% of domestic respondents marked having no interest in investing in cryptocurrencies, according to a new report from KB Financial Group
Public Korean gene sequencing firm Macrogen is developing a blockchain-based ecosystem to allow for the secure exchange and storage of genomic big data