Kim Jung-ju, a South Korean billionaire and founder of Korea's largest gaming company Nexon, has died in Hawaii, the United States. He was 54. It remains unclear what were the circumstances as NXC Corporation, the holding company of Nexon, told Yonhap News Agency that "the bereaved family is in a devastating situation."
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Kim Jung-ju founded Nexon in 1994. He was in the top five of Korea's 50 Richest 2018 with an estimated net worth of $6.8 billion, according to Forbes. In April last year, Nexon bought over 1,700 bitcoins (EXANTE: Bitcoin) for approximately $100 million.
Earlier in February, Kookmin Bank, one of the four largest banks ranked by asset value in South Korea, announced plans to launch its own cryptocurrency investment fund. The so-called Digital Asset Management Committee will work on a crypto exchange-traded fund (ETF).
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