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.
According to the BOK statement, the pilot test could begin…
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South Korea
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,…
China to start tourist travel pilot plan in February
In a recent announcement by the Chinese Ministry of Culture and Tourism, it was revealed that they will launch a pilot tourist travel plan starting next February 6, resuming the activity suspended by the Covid-19 pandemic.
It is a pilot…
South Korea successfully launched its Nuri space rocket
South Korea successfully launched its Nuri rocket into space, which was developed and manufactured with its own technology. It is considered a very important advance in the galactic industry of the Asian country that positions it as one of…
South Korea elects conservative Yoon Suk-yeol as new president
The president of the United States, Joe Biden, has transferred his congratulations by telephone to the new president of South Korea, Yoon Suk-yeol, for his victory in the elections.
Both leaders have affirmed "the strength" of the alliance…
South Korea to build first floating metropolis
South Korea will build the first floating metropolis in the coastal and port area of Busan. The project, which has the approval of the United Nations through the Habitat program, would be completed in 2025, if the pilot plan that begins…
South Korea to impose restrictions on Google and Apple
The South Korean Legislation and Justice Parliamentary Commission plans to approve the reforms to the Telecommunications Companies Law, which includes aspects related to the collection of commissions. Companies like Google and Apple will…
Samsung will create 40,000 jobs in three years
Samsung Electronics will invest approximately $ 175 million over the next three years to underpin the South Korean giant's leadership in industrial restructuring after the Covid-19 pandemic, which will translate into the creation of 40,000…