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Crypto

Korbit extends real-name account deal with Shinhan Bank by 1 year

South Korean digital asset exchange Korbit has extended its partnership with Shinhan Bank for real-name verified deposit and withdrawal accounts by one year. The renewal maintains core infrastructure for operating a won-denominated market as corporate crypto trading is expected to be allowed. Under the Special Financial Transaction Information Act, VASPs must secure such bank partnerships to offer won trading services. The FIU has been reviewing Korbit’s VASP renewal since October 2024.

Games & Commerce

Former Kakao Entertainment co-CEO Jinsoo Lee joins Kakao Future Initiative Center

Former Kakao Entertainment co-CEO Jinsoo Lee has joined Kakao's Future Initiative Center, the group’s strategic control tower, to oversee mid- to long-term strategy. Industry sources said Lee began work on Jan. 5 as head of future strategy. Kakao created a new unit within the center and appointed him to lead it. He will support founder Bumsoo Kim and help shape future business strategy for the AI era.

Finance

KOSPI closes above 4,400 for first time; Kosdaq at 4-year high

South Korea’s KOSPI rose more than 3 percent on Jan. 5, closing at 4,457.52 and breaking above the 4,400 level for the first time. The benchmark opened higher and extended gains to finish at the session high. Foreign investors bought 2.17 trillion won worth of shares, while individuals and institutions sold. Large-cap stocks finished higher, with Samsung Electronics and SK Hynix rising. The Kosdaq climbed to 957.50, its highest close in about four years.