Samsung Electronics plans to expand the application of blockchain and cryptocurrency functions, which were loaded onto the Galaxy S10, to other Galaxy models such as the budget Galaxy phones.The Korean tech giant also plans to cooperate with telecom companies in blockchain-based mobile identificatio
Three of Korea’s top four crypto exchanges posted a loss last year as the market prices of major cryptocurrencies fell sharply. Upbit was the only one which recorded a net profit of more than 100 billion won (US$87.95 million) despite a loss caused by the decline in cryptocurrency prices. This was l
Although the cryptocurrency market cooled down last year, Bithumb, South Korea’s largest cryptocurrency exchange, saw its sales increase. However, it posted a loss as the prices of its cryptocurrency assets, including Bitcoin, fell sharply.Bithumb's sales came to 391.70 billion won (US$343.14 mi
Pohang University of Science and Technology (POSTECH) and Yonsei University plan to make a blockchain campus together. POSTECH announced on April 2 that it will test operate a blockchain campus where all school members will participate. Yonsei University plans to operate the blockchain campus in the
As a hack took place even in Bithumb, the largest cryptocurrency exchange in South Korea, investors are becoming anxious. A spokesperson of Bithumb said, “It is not a hack carried out by an outsider but by an insider.” About 14 billion won (US$12.31 million) worth of cryptocurrencies were aberrantly
Members of Bithumb, the largest crypto asset exchange in South Korea, will now be able to pay with “Bithumb cash” on an online duty free shop.Bithumb announced on March 28 that it has formed a partnership with Shinsegae Duty Free and started the “Bithumb cash” payment service on online Shinsegae dut
Taiwan's TSMC, the leader in the semiconductor foundry industry, recorded a market share of 48.1 percent in the first quarter of this year. It was a 2.7 percentage points drop from last year and TSMC’s lowest market share since 45.6 percent in 2012. On the other hand, Samsung Electronics increas
The cryptocurrency of Israeli blockchain project ORBS, which has cooperated with South Korean companies such as Kakao, Samsung SDS and YES24, is planned to be listed on Bithumb. The date of listing is yet to be determined. ORBS is planning to issue its cryptocurrency on March 28 with mainnet launchi
SOMESING, a Korean startup operating a blockchain-based karaoke app, announced on March 18 that it has signed a strategic partnership with CTIA, a Singapore-based blockchain consulting firm, to cooperate in healthy development of the blockchain industry.CTIA is a consulting firm with branch offices
Starting with the Galaxy S10 released this year, Samsung Electronics Co. has begun to introduce its own blockchain wallet in the Galaxy series. Samsung’s move is fueling expectations that cryptocurrency payment and remittance services will be popularized. Moreover, the popularization of services lik
Blockchain incubators are becoming increasingly interested in game companies. With games based on blockchain platforms such as Ethereum and EOS appearing one after another, South Korean game companies are focusing on blockchain technology and working on related games as well.For example, Hashed, one
The price of Bitcoin plunged to some 3 million won (US$2,639) earlier this year, generating a debate among analysts over the future of the cryptocurrency’s price. However, it has increased to some 4 million won (US$3,518), gaining upward momentum again. The current price is still low compared to its
South Korea’s leading IT companies are planning to roll out their new blockchain-based commerical services starting from the first half of the year. They have been developing blockchain-based services since last year when the blockchain fever swept throughout the country.Domestic companies that have
Mergers and acquisitions (M&A) were the region only limited to specialized investment institutions and companies. However, individuals will be able to participate in M&A thanks to cryptocurrencies using blockchain technology.GBC Korea announced on Feb. 25 that it would start a blockchain platform se
The Financial Action Task Force (FATF) will tighten the supervision standards on cryptocurrency exchanges. It has decided to maintain the highest level of sanctions on North Korea which does not comply with the international standards set by the FATF as it is now.The Financial Services Commission (F
Cryptocurrency exchange Coinbin has declared bankruptcy, causing financial damage estimated at 29.3 billion won (US$26 million)."We are preparing to file for bankruptcy due to a rise in debt following an employee’s embezzlement," Park Chan-kyu, CEO of Coinbin, told reporters in its Seoul office on F
SOMESING, a blockchain-based social music service application, announced on Feb. 15 that it has signed a strategic alliance with Keypair, a renowned Korean developer of electronic wallet for cryptocurrencies.“SOMESING's vision is to build a service that allows singing to be part of users' ev
South Korean cryptocurrency exchange Bithumb announced on Feb. 12 that it has recently signed a memorandum of understanding (MOU) with Abu Dhabi-based N-VELOP to establish a joint venture cryptocurrency exchange in the United Arab Emirates (UAE).The two sides aim to establish the first authorized fi
Samsung Electronics Co. is supporting blockchain-based startups through Creative Lab (C-Lab), an in-house startup incubator program. As the Samsung Galaxy S10 flagship smartphone to be unveiled on Feb. 20 is expected to feature a cryptocurrency wallet, there is growing speculation that Samsung Elect
South Korea’s financial authorities announced on January 31, that their investigation into initial coin offerings (ICOs) led them to maintain a negative stance on the institutionalization of ICOs in the future. They added that their investigation found that ICOs lacked information disclosure for inv