South Korea | ForkLog

ForkLog 18 03.04.2025

South Korea Considers Opening Crypto Exchanges to Foreign Investors

South Korea may open its cryptocurrency market to foreign traders while tightening controls on money laundering. This was stated by Kim Seong-jin, head of the virtual assets department at the Financial Services Commission (FSC), according to local media. According to him, the regulator is exploring the possibility of easing restrictions on foreign market participants’ access […]

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ForkLog 87 26.03.2025

Google Play Blocks 17 Cryptocurrency Exchange Apps in South Korea

The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) reported the blocking of 17 foreign cryptocurrency exchanges on Google Play. Authorities expect this measure to prevent money laundering and potential harm to local users. The FIU confirmed that the requirement is linked to the “Act on Specific Financial Information.” Under this law, […]

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ForkLog 41 20.03.2025

Bithumb Offices Raided Amid Former Director’s Scandal

South Korean authorities have conducted raids on the offices of the cryptocurrency exchange Bithumb. The investigation focuses on the alleged misuse of corporate funds by the platform’s former director, Kim Dae-sik, to purchase a personal apartment. This was reported by local media outlet YTN. The case involves funds from a deposit for an apartment in […]

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ForkLog 22 19.03.2025

South Korean Prosecutors Seek 10-Year Sentence for Attacker of Haru Invest CEO

Prosecutors in South Korea have requested a 10-year prison sentence for the man who stabbed Haru Invest CEO Lee Hyun Soo, charging him with attempted murder. This was reported by local media. The attack on the head of the crypto company, accused of embezzling approximately $826 million from clients, occurred in August 2024 in a […]

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ForkLog 23 17.03.2025

Wemix Clarifies Delay in Disclosing $6.2 Million Hack

The South Korean Wemix Foundation delayed the disclosure of a significant $6.2 million hack to prevent market panic. The incident occurred on February 28, but was officially announced on March 4, according to Yonhap. The company’s CEO, Kim Seok-hwan, publicly apologized and stated that the decision was made to prevent further attacks and minimize consequences. […]

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ForkLog 26 17.03.2025

South Korea Dismisses Idea of Strategic Bitcoin Reserve

The Bank of Korea has “never considered” including Bitcoin in its foreign exchange reserves and views such a prospect “with caution,” according to Korea Economic Daily. The regulator clarified its stance in response to a query from a member of the National Assembly’s Strategy and Finance Committee. The primary deterrent cited by the South Korean […]

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ForkLog 16 10.02.2025

South Korean Authorities Accuse DeepSeek of Excessive Data Collection

South Korea’s intelligence agency has accused the Chinese AI application DeepSeek of “excessive” collection of personal information and using input data for self-learning. This was reported by Reuters, citing a statement from the authorities. The National Intelligence Service of South Korea (NIS) has already issued an official notice to government agencies, urging them to implement […]

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ForkLog 11 03.02.2025

Bitcoin’s ‘Kimchi Premium’ Hits Three-Year High

On February 3rd, the ‘kimchi premium’ on Bitcoin—a measure of price inflation on South Korean crypto exchanges—reached a three-year high, exceeding 11.9%. #Bitcoin Kimchi Premium is 12% right now—a three-year high. The main reason for BTC drop seems to be the strong DXY. pic.twitter.com/fjFOyUH5Pr — Ki Young Ju (@ki_young_ju) February 3, 2025 The widening price […]

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ForkLog 56 10.01.2025

South Korean entertainment executive accused of crypto scam

Kang Seung-kon, a director at major South Korean production house Cube Entertainment, is suspected of deceiving crypto investors, according to local outlet Hankyung. According to unnamed sources, he urged acquaintances and colleagues to invest in the Nestree (EGG) cryptocurrency issued by blockchain project Nestree Media Group. Kang also allegedly guaranteed the return of capital. In […]

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ForkLog 55 26.12.2024

Former Bithumb Holdings CEO Sentenced to 4.5 Years for Bribery

The former CEO of Bithumb Holding, An Seong-hun, has been found guilty of fraud and sentenced to 4.5 years in prison. The decision was handed down by the Seoul Southern District Court on December 26, according to local media. Court documents reveal that between September and November 2021, An Seong-hun, along with another former CEO […]

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ForkLog 28 10.12.2024

South Korea Delays Cryptocurrency Tax Implementation Until 2027

The South Korean government has postponed the introduction of new cryptocurrency taxes until 2027, according to a local Telegram channel. The tax in question is a 20% levy on profits from cryptocurrency transactions exceeding 2.5 million Korean won. Authorities have been working on the relevant amendment since 2020. Initially, the new tax was scheduled for […]

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ForkLog 15 03.12.2024

Military Rule Sends South Korean Crypto Market into Tailspin

On December 3, the South Korean crypto market plummeted following the imposition of martial law in the country. This was reported by journalist Colin Wu. Breaking: The all Korean won trading pairs on Korean exchanges suddenly began to plummet, with Bitcoin even falling to $79,167 and XRP falling to $1.89. They are now recovering. https://t.co/ddi2RcNnXu […]

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