SOUTH KOREA
South Korea, officially known as the Republic of Korea, is located on the Korean Peninsula in East Asia. It is known for its advanced technology, bustling cities like Seoul, rich cultural heritage, and a robust economy driven by industries such as electronics, automotive, and shipbuilding. The country is a democratic republic with a president as head of state. South Korea's education system is highly competitive, and its cuisine, like kimchi and bulgogi, has global recognition. The country also has a strong entertainment industry, known for K-pop and Korean drama. The demilitarized zone (DMZ) separating South Korea from North Korea remains a significant geopolitical focus.
South Korean Telecom Giant and City Government Teams Up to Launch Major Digital Currency
KT, the largest telecom company in South Korea is planning to launch its blockchain-based digital currency in the second biggest city in the country, Busan.
New Crypto Fraud Scheme In South Korea: What Rules Are in Place to Stop False Advertising?
The Ponzi scheme disguised as a crypto platform managed to acquire over $380 million USD for the CEO and other company staff. Corner Up was promising estimated returns of up to 200% to investors for each investment made.
South Korea Intensifies Blockchain in Banking but Rules Out Digital Fiat Currency
Wide application of blockchain technology is expected to affect people’s lives, business, education, governance, and other sectors. That is the reason, many countries explore and even deploy the huge potential of this technology. But the latest trend of the technology seems to have taken a new twist in South Korea. Now let’s find out why South Korea continues adopting blockchain in banking but rejects rolling out digital fiat currency.
South Korea to Pump In a Whopping $12.8 Million into Blockchain Industry
The adoption of blockchain technology is set to reach unprecedented levels in major countries, as recently announced by China’s President Xi Jinping. South Korea intends to follow suit based on the revelation made by the Ministry of Science and ICT that USD 12.8 million will be channeled to blockchain projects in 2020.
Vietnam Favored by Korean Blockchain Companies
Vietnam has emerged as a force to be reckoned with in the worldwide blockchain spectrum. As a result, Korean blockchain firms are seeking to setup base in this nation for the benefits rendered.
South Korean Bank, KB Kookmin, Shares Blockchain Strategy
KB Kookmin, a major South Korean bank, is planning to adopt blockchain technology into its internal processes.