🇰🇷 South Korea's Jeju island seeks to become ICO hub despite domestic ban

South Korea's Jeju island is seeking to become a free zone for initial coin offerings (ICOs) – a plan that, if approved, would allow crypto projects to conduct token sales in the self-governing province despite the country's tough stance on the issue. According to Korean news outlet JoongAng Daily Jeju province governor Won Hee-ryong indicted that, through his proposal, he intends to make Jeju island a blockchain hub in which projects that focus on innovation will be free to host ICOs as a way to finance their companies and services. The proposal comes at a time when Korea's central government has followed China's lead in announcing that unauthorized ICOs are deemed as illegal fundraising activities.

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.