South Korea

Business
Finance
Legal
Technology

Tax Relief Offered for Blockchain in South Korea

The South Korean government, has added Blockchain to its research and development tax credit scheme, to aid innovation in the area. The tax relief is scheduled to be implemented in February 2019 according to the document published. The tax credit means that for small enterprises 30 – 40% of research and development expenses would be […]

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Business
Development
Technology

Samsung Applies for Crypto Wallet Trade Mark in UK

The South Korean conglomerate, Samsung, has applied for a crypto wallet trade mark in the U.K. according to the Intellectual Property Office. This suggests that Samsung will be looking to develop blockchain software that will support cryptocurrency payments. Samsung have previously boasted that cryptocurrency may be securely stored on its mobile phones because they use […]

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Business
Development
Finance
Legal

South Korea to Tax ICOs and Cryptocurrencies

Although Initial Coin Offerings (ICOs) are banned in South Korea, the government is planning to tax cryptocurrencies and initial coin offerings (ICOs). According to The Korea Times, finance minister Hong Nam-ki, announced “A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to […]

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Development
Finance
Legal
Social Sector

South Korean Lawyers Campaign for Cryptocurrency Laws

The Korean Bar Association has campaigned publicly to establish a legal framework for blockchain based virtual currencies. Reported by Reuters, the move is to help advance the the blockchain technology within the country and protect investors. The South Korean government has said it would decide its position on cryptocurrency regulation only after further examination. This is […]

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Business
Exchange
Finance

Bithumb Exchange Stake Sold for $354 Million

According to Reuters, a large stake in Bithumb, a South Korean cryptocurrency exchange has been sold for $354 million to Kim Byung-gun. Kim Byung-gun, a plastic surgen, also runs clinics in Singapore and South Korea.

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