ChainCatcher news, according to Jinshi reports, the South Korean government stated that it will provide unlimited liquidity to the market when necessary.Brad Bechtel, Global Head of Foreign Exchange at Jefferies, stated that the South Korean leadership has used this practice in the past during significant political turmoil or power transitions, but it remains concerning. He believes that the Korean won will temporarily remain volatile. This will largely depend on the reaction of overseas investors to the South Korean stock market. If they begin to sell off in large amounts, the USD/KRW may rise to 1450.

ChainCatcher news, according to the Korea Economic Daily, the wife of Terraform Labs founder Do Kwon has won all appeals against the South Korean government's decision to confiscate her real estate shares and sell her apartment rights. Terraform Labs is the company behind the bankrupt stablecoin TerraUSD and the cryptocurrency Luna. The court ruled that these disputed assets were properties she purchased in her own name during her marriage to Kwon.

ChainCatcher news, according to Bloomberg, a U.S. judge ruled that the U.S. Securities and Exchange Commission (SEC) can seek assistance from the South Korean government to question Terraform Labs co-founder Daniel Shin and collect evidence from payment company Chai Corp. The SEC hopes to use this to help prove its allegations that Terraform and its former CEO Do Kwon engaged in an illegal scheme that resulted in at least $40 billion in cryptocurrency losses.

ChainCatcher news, according to a U.S. court ruling, the Securities and Exchange Commission (SEC) can seek assistance from the South Korean government to question Daniel Shin, co-founder of Terraform Labs, and collect evidence from payment company Chai Corp. The SEC hopes to interrogate Shin and obtain documents from Chai to help substantiate its allegations that Terraform and its former CEO Kwon engaged in an illegal scheme that resulted in a loss of at least $4 billion in cryptocurrency value.

ChainCatcher news, according to Forkast, the South Korean Ministry of Science and ICT has released two policy documents in the past two days, committing a total of 67.7 billion won (approximately 51 million USD) to metaverse projects.The government department announced on Wednesday that it will invest 27.7 billion won (approximately 21 million USD) in local services utilizing the metaverse. This 21 million USD investment will support 13 new projects in sectors such as healthcare, education, and tourism, which will leverage metaverse innovations to improve public services. Additionally, the government department announced on Tuesday the launch of a 40 billion won (approximately 30 million USD) metaverse fund, which will encourage small businesses in the metaverse sector to actively seek mergers and acquisitions to expand their operations into global markets. (Source link)

ChainCatcher news, according to Yonhap News Agency, the South Korean Ministry of Science and ICT announced that it will invest 223.3 billion won (approximately 174 million USD) this year to support the metaverse industry. The government will invest 61.5 billion won in the research and commercialization of key technologies such as digital humans and holographic displays for immersive experiences; 68 billion won for the development of targeted metaverse platforms in various fields including healthcare, education, defense, industry, and economy; 16.7 billion won for talent cultivation mechanisms such as metaverse laboratories; and establish a 40 billion won metaverse corporate acquisition fund. (Source link)