Last week, the Bank of South Korea announced a cut in the country's growth forecasts, as well as a reduction in interest rates to 2.7 % with the intention of boosting the economy in the face of US taxes and dealing with political instability following the arrest of President Yoon Suk Yeol.
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South Korea
South Korea to allow institutions to sell cryptocurrency donations
The South Korean Financial Services Commission (SFC) announced that this year it will allow institutions to sell cryptocurrency donations and will instruct banks to offer more services to companies linked to the sector.
“South Korea's top…
Hyundai Motor unveils its 100% electric SUV IONIQ 9 in the US
Hyundai Motor Company presented its SUV All-electric IONIQ 9 at the iconic Goldstein House in Beverly Hills, California, ahead of the Los Angeles Auto Show. IONIQ 9 is Hyundai Motor's first full-size, three-row electric SUV and the third…
Evasive Panda exfiltrates data from cloud services by stealing session cookies
ESET, a leading proactive threat detection company, has identified a post-compromise toolkit used by Evasive Panda to attack a government entity and a religious organization in Taiwan between 2022 and 2023. This toolkit is capable of…
South Korea to apply life sentence for crypto crimes
Starting in July 2024, South Korea will apply new regulations to cryptocurrency crimes. This could mean life sentences for criminals who engage in digital currency scams.
The country's regulatory authorities recently reported that…
South Korea will seek to block crypto purchases with cards
In a recent legislative proposal, South Korea’s Financial Services Commission (FSC) proposed changes to the country’s credit financing laws, with the aim of prohibiting local citizens from purchasing cryptocurrencies through credit cards.…
Bank of South Korea will launch CBDC pilot in 2024
The Central Bank of South Korea (BOK) announced its pilot with CBDC in 2024, with a group of 100,000 selected users who will be able to make only payments. Participants will not be able to store the currency or send it to another user.…
Philippines and South Korea sign trade agreement to boost their bilateral relations
Philippines and South Korea ratified this Thursday the Free Trade Agreement reached in June 2021 after two years of negotiations and have put an end to the legal procedure necessary for its implementation.
The South Korean Ministry of…
Central Bank of South Korea may review cryptocurrency operations and issuances
South Korea authorized the Central Bank to deepen the monitoring of cryptocurrency transactions in the country, as well as the issuances of operators with digital assets.
According to information recently published by the local outlet The…
Netflix to invest millions in South Korean content
Netflix announces a $2.5 billion investment in South Korean content over the next four years, as confirmed by streaming platform CEO Ted Sarandos after meeting with South Korean President Yoon Suk Yeol in Washington.
In a statement,…
South Korea exempts chip manufacturing and investment from taxes
South Korea's National Assembly has passed its own law to boost the country's semiconductor industry through tax breaks for manufacturers and investors, following a similar initiative by the United States.
The proposal, which has gone…
South Korea to launch Virtual Currency Tracking System
This year South Korea will implement the Virtual Currency Monitoring System, according to an announcement by the Ministry of Justice of the Asian country, which will have as its main objective to reduce crimes related to the crypto market,…