The authors are analysts of Shinhan Investment Corp. They can be reached at mj1224@shinhan.com and kimaram@shinhan.com, respectively. – Ed. Expectations for new titles arriving in 2022 and P2E NFT gamesNeowiz is set to release a number of new games from the end of this year through 2022. Its subsidi
The real owner of cryptocurrency exchange Bithumb, Lee Jung-hoon, claimed at the court that he has nothing to do with any fraud.According to the prosecution, the former head of Bithumb Holdings and Bithumb Korea met with BK Group chairman Kim Byung-kun and proposed Bithumb acquisition in October 201
Game company Wemade’s stock price jumped more than 15 percent in a day thanks to its announcement that it would absorb Wemade Tree, a blockchain business subsidiary. Wemade's market capitalization topped 5 trillion won, ranking sixth in the KOSDAQ market.Wemade’s stock price closed at 161,000 wo
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Gamevil’s Global Lite Game business should help it secure lineups and stakes for small/mid-sized game companies.Making changes to game business; beefing up capabilities as holding company playerW
The Korean currency deposits in the nation's four main cryptocurrency exchanges -- UPbit, Bithumb, Coinone and Korbit -- have increased more than 1,300 percent for the past 15 months.According to the Financial Supervisory Service, the deposits in the major local cryptocurrency exchanges increase
People Power Party lawmaker Kang Min-kuk said on Sept. 22 that a total of 22 cryptocurrency exchanges have completed the Information Security Management System (ISMS) certification, they have 14,792,925 members, and their total deposits there were 61.7311 trillion won as of the end of last month.Acc
With only 10 days left before the deadline for business registration under the Act on Reporting and Use of Certain Financial Transaction Information, it has become more visible which cryptocurrency exchanges will survive. As expected, not a few exchanges are likely to be closed down.Under the new la
NH Bank extended its real-name account issuance contracts with cryptocurrency exchanges Bithumb and Coinone on Sept. 8. Shinhan Bank and Korbit finished their preparation to follow suit. The four major cryptocurrency exchanges in South Korea including UPbit are expected to be able to do their busine
The price of Ethereum has topped US$4,000 again and its market cap exceeded that of Samsung Electronics.The market cap of the cryptocurrency increased to US$464.5 billion on Sept. 6, the 18th-largest in the world. That day, Johnson & Johnson came in 19th with a market cap of US$460.8 billion and Sam
Cryptocurrency exchange Bithumb announced on Sep. 1 that foreigners who reside abroad and cannot identify themselves using their mobile phones in South Korea can no longer use its services.The exchange also said that even foreigners residing in South Korea can no longer use its services if they fail
Bithumb, Coinone and Korbit have launched CODE, a joint venture for the establishment of a common travel rule system.The three cryptocurrency exchanges announced on Aug. 31 that they set it up by joint investment, the total initial investment is 900 million won, and they equally share stakes and vot
Cryptocurrency exchange UPbit recorded a 24-hour trading value of 12,438.2 billion won at 08:55, Aug. 30. The combined trading value at the four major exchanges including UPbit was 13,841.8 billion won at that moment, whereas KOSPI recorded a trading value of slightly over 11 trillion won on Aug. 27
With the revised Act on Reporting and Use of Specific Financial Transaction Information scheduled to take effect on Sept. 25, foreign cryptocurrency exchanges are closing their services in South Korea one after another in order not to violate the law.Bitfront announced on Aug. 15 that its services i
The Financial Services Commission looked into 25 local cryptocurrency exchanges for one month until July 15 and announced on Aug. 16 that they are incapable of observing the Act on Reporting and Using Specified Financial Transaction Information.“The exchanges have few or no personnel in charge of mo
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Gamevil’s Global Lite Game business, which identifies and re-launches games made by small/mid-sized developers, looks promising. The share price for its major subsidiary, Com2uS, is currently slu
Binance is reducing its services for South Korean users as the South Korean government is trying to regulate it.Binance removed the KRW option from its currency setting in the evening of Aug. 10. Earlier, in the afternoon that day, the cryptocurrency exchange stopped providing its services in Korean
Cyber threats presumably from North Korea and for the purpose of money have become more and more frequent in South Korea since the 2010s.In the early stage, the most common form was malicious codes in illegal gambling software. In 2014, the prosecution caught three South Koreans who colluded with pr
The cryptocurrency trading volume is increasing as their prices are rising. This time, the uptrend is being led by altcoins.At cryptocurrency exchange UPbit, the price of Dogecoin was 279 won at 14:00, Aug. 9 whereas the closing price was 236 won on Aug. 2. On Aug. 8, the daily highest price was 325
Samsung Electronics has slipped one notch to third place in a ranking of global semiconductor companies in terms of market capitalization.Taiwan's TSMC, which once competed with Samsung Electronics for the top spot, surpassed US$600 billion in market capitalization to become the largest chipmake
NH Bank has asked Bithumb and Coinone to temporarily stop cryptocurrency deposit and withdrawal until they establish travel rule-related systems.At present, NH Bank is doing business with the two cryptocurrency exchanges by providing real-name accounts. The travel rule from the Financial Action Task