The South Korean government has pledged USD 1.27 million in funding for a contact-free. Blockchain-based service platform for residents of the country’s apartments. Which operators say will allow residents to participate in electronic voting, manage parking spaces, etc. The South Korean Ministry of Science and ICT has selected a domestic company named Ksign as the […]
South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report. The Korean government is expected to announce its tax reform plan in late 2020. The low-level trading tax was recommended because there is […]
South Korea has confirmed that income tax can’t be levied on individual investor’s profits from crypto transactions under the current tax law. However, the government is reviewing international trends. And the approaches of major countries to crypto taxation to amend the existing Korean tax law to include cryptocurrency. Crypto Profits No More a Subject of […]
South Korea’s central post service, Korea post partners with crypto exchanges of the country to implement a Blockchain billing system. Together the South Korean government and local private companies will work on the new project. The private companies include Coinplug and global IT firm NHN. The implementation will be operational under the Ministry of Science and ICT. […]
South Korea’s top utility firms have joined hands to develop a blockchain-powered system for Renewable Energy Certificates (RECs). Korea Electric Power Corporation (KEPCO) and Nambu Electric Power have signed a contract with the Korea Southern Power Co. for this establishment. KEPCO is the largest electric utility in South Korea. The information comes from a local […]
Prior on Tuesday, the South Korean government called for a crisis meeting over the danger of losing investors with a rise in the cost of bitcoin. The minister for the Office for Government Policy Coordination, Noh Hyeong-ouk reported for the meeting for in an administration articulation. The departments involved were the Ministry of Economy and […]
Myongji Hospital, a South Korean hospital, has signed a partnership agreement with BICube, a local tech company, to develop a blockchain powered medical service platform. The duo have planned to use blockchain technology to build a healthcare information exchange system that will allow updating of hospital related information for public access.