South Korea is not welcome to the Korea Exchange nor even companies related to the currency. The government has taken various measures to regulate and control the market, including the first ban on supplying tokens. In addition, it made an important decision to limit its trade, one of the most active countries in the market.
According to a report on the usethebitcoin, Korean news source Edaily said that Korea is planning to establish a code currency center in Busan this time. The area is called Crypto Beach, which reminds us of Crypto Valley in Zug City, Switzerland.
Oh Jeong-heon, chairman of Korea ICT Financial Cooperation Association, explained their plan as follows.
Like Crypto Valley in Switzerland, Korea needs a place to focus on the cryptophony industry. He benchmark other cities and created Crypto Beach on Haeundae Beach. We are planning a meeting to discuss with the city. "
Currently, South Korean companies are beginning to issue tokens abroad. As recently reported, foreign countries may be considering allowing some companies to issue their own code currency in the country. Due to the lack of desirable legislation, Korea`s promising investment is shifting overseas.
For example, Singapore and Switzerland are attracting companies from all over the world and producing good results for their economies. In our neighboring country, Japan, GDP rose 0.3 % just because of its cryptography.