South Korean telecom giant KT, previously known as Korea Telecom, has announced its intention to spend $5.3 billion (7 trillion won) in AI service research and development spanning over the next five years. Thus, solidifying its position as a forerunner in the area amid the AI industry’s fast expansion. KT
South Korean cryptocurrency investment platform Haru Invest reportedly fired off more than 100 employees. On June 23 the layoffs will be formalized. Several days after suspending deposits and withdrawals owing to a problem with one of its service suppliers. The firm made this decision. Recent reports state that Haru Invest
Delio, the leading crypto lending company in South Korea, has announced a temporary suspension of customer withdrawals. This decision has been made in order to safely protect the consumer’s assets. On June 14, Delio announced that it had temporarily suspended customer withdrawals. Delio mentioned that the company has to take
The National Police Agency of South Korea is working on a technology to permit real-time surveillance of wallet addresses and the ability to freeze funds. The police department will meet with Binance and the top five cryptocurrency exchanges in South Korea to discuss these initiatives. Since South Korea is the
The People’s Power Party (PPP), the governing party in South Korea, has proposed a new bill urging lawmakers and other high-level government officials to implement crypto legislation and regulations as soon as possible. This request was made on Tuesday, May 23. PP House Leader Yun Jae-ok addressed the press with
The prosecutors in South Korea have conducted a raid on the two local crypto exchanges as part of the investigation into the digital assets of lawmaker Kim Nam-kuk. Yonhap, a South Korean news agency, reported that a group of prosecutors from the Seoul southern district office raided the two crypto
The decision by a South Korean district court that Terraform Labs’ native token, luna, is not a security has significant implications for the company and the wider cryptocurrency industry. The ruling comes after previous court discussions where authorities were on the fence about whether the Capital Markets Act applied to
Ripple (XRP) has reportedly one of the greatest-performing assets in the cryptocurrency industry. The price of Ripple has been steadily rising since the start of 2023. On March 21, the token moved from the $0.3 zone to the $0.4 zone. The token eventually conquered a fresh hurdle to reach $0.5
South Korean regulator, Seoul Southern District Prosecutor’s Office, succeeded in recovering 210 billion won, worth $160 million at press time, from 8 suspects of the Terra Luna collapse. Reportedly, the authorities seized properties that were “unfair profits” earned by the Terraform Labs co-founder Shin Hyun-Seong also known as Daniel Shin
Alchemy Pay, the Singapore-based payment gateway, has partnered with DWF Labs to expand its operations in South Korea. DWF Labs, a Web3 investment firm, has provided $10 million in funding to the payment gateway. We are excited to partner with DWF Labs, the prominent multi-stage web3 investment firm to secure
