South Korean electronics giant Samsung Electronics Co. and chat giant Kakao Corp. have joined hands to expand the blockchain ecosystem. The two companies will release the so-called “KlaytnPhone” integrating Samsung Electronics’ Galaxy Note 10 and Kakao’s blockchain platform Klaytn.Kakao announced on
South Korea’s large commercial banks have been keeping their distance from cryptocurrencies in line with the government’s policy. But they are making an aggressive move to introduce blockchain technology. They are making a direct investment in blockchain companies or joining hands with startups to d
The South Korean government needs to come up with laws and systems related to blockchain technology and cryptocurrencies to encourage companies to invest in the blockchain industry, an industry report says.The report, released by BC Card Digital Research Institute and KT Economics & Management Resea
South Korea's leading cryptocurrency exchange Coinone has released an application that can simplify the authentication procedure needed for cryptocurrency transactions.Coinone announced on Aug. 19 that it has launched the “Coinone Pass” app which allows users to simply authenticate themselves to
South Korean blockchain startups are listing their cryptocurrencies on overseas exchanges one after another. Foreign exchanges have opened the Korean won money market to attract South Korean cryptocurrency projects.The number of South Korean companies listing their early-stage blockchain projects on
The Associated Press said based on a report from the U.N. Security Council Sanctions Committee on North Korea that North Korea had carried out at least 35 hacking attacks against 17 countries from December 2015 to May this year to take approximately US$2 billion, those cyber hacking attacks include
The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) has disclosed a plan to directly regulate cryptocurrency exchanges and bring them into the regulatory system. Currently, the FIU indirectly controls cryptocurrency exchanges through administrative guidance to banks.A
Dunamu Inc., operator of the global crypto-asset exchange Upbit, announced on Aug. 6 the official lineup and program for the Upbit Developer Conference 2019 (UDC 2019) which will take place Sept. 4-5 in Grand Hyatt Incheon Hotel in Incheon, Korea.UDC was launched last year as one of the largest even
Although the mutual evaluation unit of the Financial Action Task Force (FATF) has finished a due diligence on South Korean financial companies, domestic banks cannot relax until the final results come out in April next year. The on-the-spot inspection has been completed, but they now face a stricter
The South Korean government is planning to allow telemedicine and blockchain-based regional currencies. The seven regulation-free zones it designated on July 24 are expected to function as test beds for new industry development.The seven zones are located in Gangwon Province (digital healthcare), Da
The “Gram” token issued by Telegram is now available only to Upxide exchange customers in South Korea.Upxide announced on July 14 that it will sell Telegram’s cryptocurrency “Gram” for 14 days until July 25 in partnership with global cryptocurrency exchange Liquid. “GRAM” is a native utility token o
The price of Bitcoin has surpassed the 15 million won (US$12,980) level for the first time in a year and five months.The Bitcoin was traded at 15.30 million won (US$13,239) as of 4 p.m. on June 26, up 15 percent compared to the same time a day earlier, according to Upbit, the largest cryptocurrency
The Financial Action Task Force (FATF) urged the financial authorities of the member states to regulate cryptocurrency exchanges in the same manner they regulate commercial banks in order to prevent cryptocurrencies from being misused for illegal transactions. This has put nearly 200 South Korean cr
An increasing number of foreign cryptocurrency exchanges are entering the South Korean market, attracted by its particularly high cryptocurrency trading volume-to-population ratio and lack of regulations related to cryptocurrency exchange establishment.On the other hand, South Korean cryptocurrency
Nvidia, the world's second-largest semiconductor design company, will produce its next-generation graphics processing units (GPUs) using Samsung Electronics’ 7 nanometer (NM) extreme ultra-violet (EUV) processes. Industry experts say that it is very symbolic that Nvidia joins hands with Samsung
The price of Bitcoin has recovered to the 10 million won (US$8,435) range.The rebound is attributed to an increasing number of investors injecting money into cryptocurrencies amid increased variability in the global economy and global companies' moves to bring the virtual coin into the financial
Samsung Electronics appears to be moving to integrate cryptocurrencies to Samsung Pay, which accounts for 80 percent of the South Korean simple payment market. The company has recently transferred the blockchain task force (TF) of the mobile business division to the service business division.The blo
Beauty blockchain firm Cosmochain has attracted US$2.50 million (2.98 billion won) token investment from a U.S. hedge fund.Cosmochain is a blockchain project that has attracted attention when Samsung Electronics selected it as an initial dApp partner for its Galaxy S10 Smartphone in March. The Galax
Dunamu Inc., operator of global crypto-asset exchange Upbit, announced on May 15 that the company has invested more than 55 billion won (approximately US$46 million) since announcing a three-year plan to invest a total of 100 billion won (approximately US$84 million) into the blockchain industry in
The price of Bitcoin, which has recently risen steadily, has surpassed the 9 million won (US$7,579) mark. Bitcoin was being traded at 9,466,000 won (US$7,971) as of 2 p.m. on May 14, up 13 percent, from the previous day, according to Bithumb, one of South Korea's leading cryptocurrency exchanges