Contributor

Danny Park

Danny is a journalist at Forkast.News. Originally from South Korea, Danny has produced content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.

Stories: 764

How Forkast minds work & our editorial standards

DeFi News

South Korea calls for legal review on DeFi businesses

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]

Danny ParkOct 8, 2021
Regulatory News

South Korea will tax crypto but not NFTs

South Korea’s finance minister says that while income from virtual asset transactions will be taxed starting Jan. 1, 2022, NFTs (non-fungible tokens) are not to be taxed yet. Fast facts At the National Assembly’s annual review on Wednesday, Minister of Economy and Finance Hong Nam-ki said the government plans to start taxing virtual asset gains […]

Danny ParkOct 7, 2021
Regulation

Top South Korean exchange accused of listing faulty tokens for fees

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.

Danny ParkOct 6, 2021
Regulation

Petitioners oppose looming 20% crypto tax in South Korea

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

Danny ParkOct 5, 2021
Regulation

Illegal foreign exchange transactions using crypto in South Korea break record, grow fortyfold

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.

Danny ParkOct 4, 2021
NFTs and Gaming

South Korean game developer, crypto exchange team up for next level gaming

Mobile game company Gamevil buys a large share of crypto platform Coinone, planning to develop blockchain-based gaming.

Danny ParkSep 30, 2021
Regulation

South Korean banks find workaround to cash in on crypto services

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.

Danny ParkSep 29, 2021
Regulation

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

Danny ParkSep 27, 2021
Regulation

Fewer South Korean crypto exchanges remain in business under new industry regulations

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

Danny ParkSep 24, 2021
Regulation

South Korea’s crypto crackdown: What you need to know

The country's crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

Danny ParkSep 23, 2021