South Korea’s tech news in October of 2024 captured headlines on items including: the launch of the government’s Virtual Assets Committee; South Korean supply of prismatic batteries to China’s Geely auto-maker; moves to recover tax from South Korean cryptocurrency holders; and more – hit the links below to read each item in full.
South Korea market reference:
- South Korea population (2023): 51.8 million
- South Korea online population: 49.4M / 95.4%
- South Korea’s median age: 45.5 years
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- South Korea: Government launches National AI Research Lab with plans to invest $68.2M by 2028, looking at AI research projects and global partnerships / full item
- South Korea: Rebellions chip-maker partners Samsung Foundry, Arm, and ADTechnology for AI CPU chiplet platform, looking for scalable power and processing efficiency / full item
- South Korean media points to crypto trading as reason for young people defaulting on loans from neobanks / full item
- South Korea: North Gyeongsang Province seized $890K in crypto assets from residents who failed to pay taxes, with 22 cities and counties now preparing for further collections / full item
- South Korea: New regulatory body preps for launch this month, the tentatively-named Virtual Assets Committee, operating under the Financial Services Commission / full item
- ‘A South Korean probe into soldiers who reportedly used their military passwords as loan collateral to buy crypto has unveiled 29 further cases of compromised armed forces secrets.’ / full item
- South Korea’s Hyundai and Google’s Waymo, autonomous driving tech firm, have partnered to bring Hyundai EV’s to Waymo’s US robotaxi fleet in 2025 / full item
- South Korea: Global Content Insight 2024 event is set for November 21-22, providing networking for, and with, Korean content producers across K-Pop, K-Drama and more / full item
- South Korea, Japan and the US are to boost joint efforts to combat North Korea’s hacking activities, in response to a rise in attacks on global virtual currency exchanges / full item
Coincub: Crypto Banking Report 2024
- South Korea’s SK On preps for mass production of prismatic batteries for the first time, supplying to China’s Geely electric vehicles maker / full item
- Korea-origin AI startup, MarqVision, secures $16.5M Series A with intellectual property protection platform, scanning messaging and platforms globally for counterfeit sales / full item
- North Korean hackers found using new Linux-focused FASTCash malware to attack ATMs and card transactions at both retail and regional interbank payment processor levels / full item
North Korea: “…about 6 in 10 people use mobile phones to purchase shop items in the capital [Pyongyang], and while the number is a bit lower in the provinces, it’s still 4 in 10.” / full item
- Japan’s JPYC, issuer of yen-pegged stablecoin, partners South Korea’s ITCEN IT major for stablecoin research, particularly focusing on integrations with real-world assets / full item
- Taiwan: ‘…ranks first in the world in AI hardware, but 26th in software, behind neighboring Singapore (third) and South Korea (sixth).’ / full item
- Project Mandala proof-of-concept: Automating compliance procedures on cross-border financial transactions, with central banks of Singapore, Malaysia, Australia and Korea participating / full item
Galaxy: The Digital Asset Investable Universe
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