Korea
S. Korea Tightens Grip on Crypto Firms as Renewal of Regulatory Approvals Loom
The Korea Financial Intelligence Unit (KoFIU) announced plans to ramp up the scrutiny of cryptocurrency exchanges operating within the country. Starting this year, exchanges that do not meet stringent regulatory standards will face expulsion from the market, according to The
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South Korea’s New Digital Nomad Visa Scheme: Eligibility Criteria and Requirements
On January 01, 2024, South Korea officially launched a pilot program for a digital nomad visa scheme, allowing foreigners to stay for up to two years while maintaining a job back home, officials said on December 29, 2023. The visa
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JCB and GLN Enable Korean Code Payments at Smart Code Merchants in Japan
Japanese international payments firm JCB has partnered with GLN to integrate Korean code payment services into Smart Code merchant locations across Japan by the end of the fiscal year 2023. This integration will enable Korean tourists using services such as
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South Korea’s Regulator FSC Excludes NFTs and CBDCs from Crypto Interest Earnings
South Korea’s financial regulator, the Financial Services Commission (FSC), has announced that from July 2024, individuals investing in digital assets will earn interest on their deposits at crypto exchanges. However, this will not apply to non-fungible tokens (NFTs) and central
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Italy and South Korea Unite to Advance CBDC and Real-Time Settlements
The Bank of Italy and the Bank of Korea have signed a memorandum of understanding (MOU) to facilitate the exchange of knowledge and expertise related to central bank digital currencies (CBDCs) and real-time gross settlement (RTGS) systems. Under the terms
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South Korea to Test Digital Won with 100,000 Citizens in CBDC Pilot Next Year
South Korea is preparing to launch a pilot programme for a central bank digital currency (CBDC) involving 100,000 citizens, as reported by The Korea Times. This initiative, planned for the fourth quarter of next year, is a collaborative effort between
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LOTTE HIMART and bolttech Introduce Home Appliance Switch Service in South Korea
South Korean electronics retailer LOTTE HIMART has partnered with international insurtech company bolttech to introduce a home appliance switching service. The new service is available for an annual subscription fee starting at US$30, with the option of an extended three-year
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Kakao-Backer Korea Investment Partners Close US$60M SE Asia-Focused Fund
Korea Investment Partners Southeast Asia (KIPSEA), a Singapore-based venture capital firm, has raised US$60 million for its first fund focused on Southeast Asia, according to TechCrunch. Investors Samsung Life Insurance, Korea Development Bank, Korea Growth Investment Corporation, Woomi Global, Mirana
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S. Korea’s MOIN Partners Currencycloud to Enhance Cross-Border Payments
Currencycloud, a provider of B2B embedded cross-border solutions, and South Korean cross-border payment company MOIN join forces to make cross-border payments faster, cheaper, and more secure. MOIN aims to reduce the cost of remittances for its customers. By tapping Currencycloud’s
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Bank of Korea, Samsung to Research Use of CBDCs for Offline Payments
The South Korean central bank has reportedly partnered with tech giant Samsung Electronics to research Central Bank Digital Currencies (CBDCs) for offline payments. According to local media The Korea Herald, the Bank of Korea (BOK) and Samsung has signed a
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