One of Korea's Largest Business Conglomerates Becomes Top Shareholder of Korbit
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SK Square, SK Telecom's investment arm, has become the second-largest shareholder of the Korbit cryptocurrency exchange. According to The Korea Herald, the investment arm purchased a 35% stake for $75.5 million. SK Square believes that holding a stake of Korbit itself will "increase the net asset value of SK Square."

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"SK Square will continue to invest in ICT areas that will lead future innovation, such as blockchain and metaverse, to become an attractive investment company," said Yoon Poong-young, the company's chief investment officer.

South Korea to Reconsider Its 2017's Ban on ICO

The largest shareholder of Korbit remains NXC, the holding company of Japanese game maker Nexon. Earlier in June, Korbit launched its own marketplace for non-fungible tokens (NFT). Thus, Korbit became the first cryptocurrency exchange to launch an NFT marketplace in Korea. The exchange said that NFT creators can publish their tokens for sale, and potential buyers can then bid for the NFTs. All transactions are based on the Ethereum network.

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