Token Investors May Sue After Former Korean Social Media Giant Shuts Down

Investors in the “clink” token launched by Korean social media firm Cyworld earlier this year are up in arms over the firm’s abrupt closure. As reported in The Korea Times, Cyworld shut down on Oct. 1 without warning, leaving clink investors uncertain if their holdings continue to have any value. Adding to the mess, two Korean […]

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South Korea’s Kakao May List Its Klay Cryptocurrency on Chinese Exchange

South Korea’s Kakao is looking to list its cryptocurrency on an exchange but it may not be able to list the token domestically, according to a report from News1, a Korean news service. While the company is now looking at two exchanges for the possible trading of Klay—one in China and the other in Korea—the […]

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South Korea’s SK Group Proposes Blockchain-Based Donation Platform and Two Tokens

The SK Group, one of the largest conglomerates in South Korea, is creating a blockchain-based donation platform, reports IT Chosun, the technology publication of the Chosun Ilbo. The company also proposed two new tokens have been proposed in the design of the platform. According to the report, SK Corporation C&C, the group’s IT arm, made […]

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The City of Seoul Will Create a Cryptocurrency for Citizen Rewards

The Seoul Metropolitan Government will establish its first blockchain-based administrative services in November, according to a report in the Korean-language blockinpress. At a conference held last month and attended by city officials and representatives of the private sector, specifics of the roll out were discussed, with timelines and goals established. The meeting seemed to revive […]

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South Korea’s Shinhan Brokerage to Offer Blockchain-Based Securities Lending

Shinhan Financial Investment will soon be offering peer-to-peer (P2P) stock lending via the blockchain. When the new service is introduced this year, individuals will be able to borrow and lend securities with other individuals directly, rather than going through an intermediary. The Economic News and other local Korean media reported the news. Securities lending and borrowing transactions are […]

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South Korean Financial Overseer Who Banned ICOs Abruptly Quits

The head of South Korea’s Financial Services Commission (FSC) abruptly resigned last week, according to a July 18 report from The Korea Times. Former Chairman Choi Jong-ku reportedly left his office one day in advance of his second anniversary, amid a period of governmental reorganization. He told reporters he resigned “before the expected reshuffle” to […]

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