According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country.
South Korea News
Located in East Asia, South Korea is a country known officially as the Republic of Korea. The country is home to approximately 51 million people and uses the South Korean won as its currency. The capital of South Korea, Seoul, is geographically seated in the nation’s upper region. Thanks in part to its bustling capital and the nation’s landscape, South Korea’s economy benefits from various factors, including technological advancements. South Korea borders North Korea, also known as the Democratic People's Republic of Korea.
The South Korean crypto scene includes strict regulations on certain fronts, although the country is known to host significant crypto trading activity. On South Korean platforms, Bitcoin (BTC) sometimes trades at prices above the rest of the market, leading to the creation of the term “Kimchi premium” — a name for the difference between South Korean Bitcoin prices and the rest of the market.
After over two years, the feared investigative and prosecutorial team has been reformed by the new President to look into the mess caused by Terraform Labs.4614
Regulators in South Korea have issued a new report that offers a bevy of recommendations for how to properly govern the country’s crypto industry.1975
Rep. Yoon Chang-Hyeon noted that Korean exchanges each reacted differently to the crash and he wanted to invite both Do Kwon and the exchanges involved to learn more details.11734
Janet Yellen calls on lawmakers to develop a consistent federal framework for stablecoins, Hester Peirce urges to allow room for failure and more.1485
ETH options pricing and the top traders’ long-to-short ratio signal a lack of confidence in the $1,700 support.5803
The effort will include issuing guidance for NFTs and ICOs, expanding infrastructure and supporting CBDC research.2313
SportemonGo will no longer be sponsoring pro-football teams, Steve Irwin’s zoo is launching NFTs and Leeds United is selling tokenized jerseys to support Ukraine.2884
The country’s president-elect is proving his crypto savvy by declaring there will be no tax on crypto investment gains until legislation can ensure consumer protections.2020
The Upbit operator is under heavy scrutiny from local regulators as its total assets balloon and a subsidiary issued controversial investment advice.811
Hyundai also gave cryptic clues to a possible metaverse in line with its earlier concept for robots to bridge the real and virtual worlds to enhance mobility.2695
It follows a history of crypto projects from Kakao, including its Ground X blockchain subsidiary, which won the South Korean Central Banks’ CBDC tender last year.2212
The far eastern nation may soon be at the forefront of the blockchain industry again as its people are adopting NFT use at a tremendous rate.5768
South Korean tech giant LG Electronics has officially updated its business development goals to include cryptocurrency and blockchain-based software.8463
Complying with the rules puts South Korea ahead of the curve for regulating virtual assets but could be harming the domestic industry with overbearing transfer restrictions between exchanges.3726