South Korea’s first digital asset law comes into force after year of finessing
The Virtual Asset User Protection Act focuses on investor protection and mandate that exchanges keep at least 80% of user deposits in a cold wallet.
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South Korea’s ruling party wants to postpone 20% digital asset tax to 2028
Initially scheduled for 2021, the disputed 20% tax on annual digital currency gains could be postponed if the ruling People Power Party has its way.
South Korean exchanges to step up monitoring as global fraud, exploits surge
With blockchain-based scams on the rise, South Korea will go ahead with the operation of its monitoring system this mid-July in an attempt to safeguard participants in the digital asset ecosystem.
South Korea think tank warns against dangers of digital asset spot ETFs
Researchers from the Korea Institute of Finance published a paper probing over the viability of spot ETFs, noting that the cons by far outweigh the benefits.
South Korea commits $14.5 million to experiment with CBDC, digital vouchers
South Korea is doubling down on its blockchain investment, with the latest being a $14.5 million investment to explore CBDC and digital vouchers, with the Bank of Korea leading the studies.
SM Entertainment founder pushes for AI, blockchain adoption in K-pop
Lee Soo-man, founder of South Korean multinational entertainment agency SM Entertainment, urged industry participants to increase the adoption metrics for AI in the creative sector.
Naver Corp to double down on AI investment in South Korea
Naver's entry into the artificial intelligence ecosystem isn't solely rooted in its ambition for greater innovation but also in its drive to ensure the protection of consumers amid continuous tech advancements.
South Korea’s Nonghyup and Woori advance tokenization projects
Nonghyup received a billion won from the Korea Internet & Security Agency to build a tokenization platform, while Woori applied to join a regulatory sandbox.
LG Uplus brings unique experience for students with Meta Yonsei platform
A major leap toward South Korea's digitization efforts, LG Uplus rolls out its metaverse platform at Yonsei University, giving students new ways to experience academic life with heightened realism.
South Korea’s Kakao, Naver merge blockchain projects to launch ‘kaia’
The two companies were behind Klaytn and Finschia blockchain projects, which had a combined market cap of $876 million and target becoming “Asia’s largest blockchain.”
South Korea investing $7 billion in AI to stay ahead of the curve
South Korean President Yoon Suk Yeol has confirmed the country’s intention to invest $6.9 billion in supporting the local AI industry, and about US$1 billion will be used for semiconductor firms.
South Korea eyes blockchain tech to streamline job application process
South Korea's plan to introduce digital skills will span five years and is geared toward deepening the talent pool and catch up with other competing jurisdictions for emerging technologies.