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.

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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.

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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.

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South Korean Official Calls For Global Crypto Regulations

ICO News, News, Regulation | September 10, 2018 By:

Yoon Suk-heun, governor of South Korea’s Financial Supervisory Service (FSS), has urged regulators from 14 other countries to jointly draft international regulations for cryptocurrencies and initial coin offerings (ICO).

During the 20th Integrated Financial Supervisors Conference (IFSC) in Seoul last week, Yoon urged the need for international coordination,

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Belarus Encourages Korean Investors Interested In Blockchain

Blockchain, News | September 7, 2018 By:

Andrei Dapkiunas, the deputy foreign minister of Belarus, recently said that his country is open to South Korean investors interested in blockchain, artificial intelligence (AI) and other “fourth industrial revolution” technologies.

During a visit to Seoul, South Korea to promote bilateral relations, Dapkiunas said that Belarus has developed “groundbreaking state legislation” in the IT sector,

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South Korean Province Of Gyeongsangbuk-do To Issue Own Cryptocurrency

News | August 31, 2018 By:

The South Korean province of Gyeongsangbuk-do is planning to issue its own cryptocurrency to replace the local currencies of its nine cities.

Gyeongsangbuk-do, also known as Gyeongbuk, wants to replace city-issued gift certificates with a cryptocurrency called Gyeongbuk Coin, which will be made available for purchase at an exchange and will be usable at merchants across the province.

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