ICON Showcases Three Blockchain Services For Seoul Residents

Blockchain, News | November 2, 2018 By:

Blockchain startup ICON, in partnership with the Seoul government, has demonstrated the three main components of its blockchain platform.

ICON is building a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. The company is vying to be the first to connect South Korea through a massive-scale blockchain.


Blockchain Startup Electron To Pilot Energy Trading Platform In South Korea

Blockchain, Innovation, News | October 18, 2018 By:

Blockchain startup Electron has received further funding from the UK’s Government Department of Business Education, Innovation and Skills (BEIS) to pilot an energy flexibility trading platform in South Korea.

Part of the UK-South Korea Smart Energy Innovation Collaboration competition, the UK grant will help fund Electron’s project with South Korean energy solutions provider GridWiz,


Seoul Mayor Announces $88.2M USD Blockchain Fund

Blockchain, News | October 5, 2018 By:

Park Won-Soon, the mayor of South Korea’s capital Seoul, has unveiled a five-year plan to promote blockchain industries.

The initiative, dubbed “Blockchain City of Seoul,” includes startup funds and the creation of business complexes. Speaking in Zug, Switzerland on Thursday, Park said that the city plans to create a 100 billion won ($88.2M USD) public-private fund to invest in blockchain startups by 2022.


South Korean Govt Pledges Support For Blockchain Startups

News | September 21, 2018 By:

The South Korean government has pledged to increase support for local blockchain startups to speed up the growth of the industry.

During a meeting with blockchain startups in Bundang, Gyeonggi Province on September 20, Second Vice Minister of Science and Information Communications Technology (ICT) Min Won-ki listened to startups explain the challenges and difficulties they face in doing business in the country.


Samsung SDS To Develop Blockchain Customs System

Announcements, Blockchain, News | September 14, 2018 By:

Samsung SDS, the Internet technology solutions unit of Samsung Group, is teaming upp with the Korea Customs Service (KCS) to build “the world’s first blockchain-based export customs clearance system.”

In July of this year, KSC selected Samsung SDS to establish the advanced export customs clearance system as part of efforts to adopt cutting-edge technologies for its customs administration in response to growing trade and e-commerce volume.


Central Bank Of South Korea Calls For Monitoring Of “Kimchi Premium” In Crypto Prices

News, Regulation | September 11, 2018 By:

The Bank of Korea (BOK), the country’s central bank, has called for continued monitoring into local crypto markets to nullify the so-called ‘kimchi premium’ in cryptocurrency prices.

Earlier this year, cryptocurrencies, such bitcoin and ethereum, were traded far higher in the South Korean market compared to spot prices on global exchanges.