Li Xionglie to Change Perception of Virtual Asset Trading in South Korea

02/28/2023 02:28 • Tech Trends • 87 views

It is reported that Li Xionglie, the honorary president of the Korean Kolon Group, promoted the establishment of a joint venture company with Won An, and cooperated with the Korean government and financial authorities to establish a new virtual asset trading platform. If the virtual asset trading platform promoted by President Li is approved to be established, the perception of the domestic virtual asset trading market in South Korea may change, and it is expected that it will become a competitor of Upbit. (Korea Economic Daily)

Korea’s Kolon Group will establish a joint venture company with Jeon and cooperate with the authorities to establish a virtual asset trading platform

Analysis based on this information:

The Korean Kolon Group’s honorary president, Li Xionglie, is reportedly promoting the establishment of a joint venture company with Won An to set up a new virtual asset trading platform in cooperation with the Korean government and financial authorities. If the platform is approved, it may change the perception of the domestic virtual asset trading market in South Korea, potentially creating a competitor for Upbit, one of the largest cryptocurrency exchanges in South Korea.

Virtual asset trading has been a topic of interest in South Korea over the past few years, with the government implementing regulations to ensure transparency and protect investors. The establishment of a new virtual asset trading platform by Li Xionglie and Won An in partnership with the government and financial authorities may be an indication of the government’s shift towards embracing virtual assets and blockchain technology.

The establishment of a new virtual asset trading platform will undoubtedly change the landscape of the virtual asset market in South Korea. By partnering with the government and financial authorities, the joint venture company will benefit from their knowledge and expertise in the field, ensuring that the platform adheres to the regulations set in place.

Moreover, Li Xionglie’s involvement in the establishment of this new platform lends credibility to the project. Li Xionglie is a well-known figure in the Korean business world, and his involvement in the project may be seen as a testament to the potential success of the platform.

If the platform is approved and successfully established, it may pose a significant threat to Upbit, one of the largest cryptocurrency exchanges in South Korea, which has a dominant position in the market. With the increasing interest in virtual assets from both institutional and retail investors, the establishment of a new virtual asset trading platform may further drive the growth of the market in South Korea.

In conclusion, Li Xionglie’s promotion of a joint venture company with Won An to establish a new virtual asset trading platform in partnership with the government and financial authorities may change the perception of the virtual asset trading market in South Korea. The project’s potential success may pose a threat to Upbit, and its approval and establishment may further drive the growth of the virtual asset market in South Korea.

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