{"id":33923,"date":"2020-12-24T13:17:14","date_gmt":"2020-12-24T11:17:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33923"},"modified":"2025-08-28T16:14:43","modified_gmt":"2025-08-28T13:14:43","slug":"binance-to-close-branch-in-south-korea","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-to-close-branch-in-south-korea\/","title":{"rendered":"Binance to close branch in South Korea"},"content":{"rendered":"<p>The Binance cryptocurrency exchange&#8217;s unit in South Korea will cease operations at the end of January 2021 due to low trading volume, journalist Colin Wu reported.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Wu learned that Binance Korea announced on the 24th that it would terminate operations at the end of January next year due to low transaction volume. CZ stated that he will continue to establish new venture capital companies, develop platforms with local partners, <a href=\"https:\/\/t.co\/tvmTmBy20U\">pic.twitter.com\/tvmTmBy20U<\/a><\/p>\n<p>\u2014 Colin Wu\uff08Wu Blockchain\uff09 (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1341973852985815040?ref_src=twsrc%5Etfw\">December 24, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CEO Binance Changpeng Zhao said the company would continue to create new venture-capital firms, develop platforms with local partners, and seek opportunities to serve all users, including Korean users.<\/p>\n<p>In November, the exchange&#8217;s branches <a href=\"https:\/\/u1f987.com\/en\/news\/binance-closes-jersey-crypto-fiat-exchange\">on the island of Jersey<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-close-uganda-subsidiary\">in Uganda<\/a> ceased operations. Colin Wu suggested that the closure of Binance units in different countries is linked to tightening local regulation.<\/p>\n<p>He noted that the company, together with Huobi, <a href=\"https:\/\/u1f987.com\/en\/news\/media-huobi-plans-to-acquire-bithumb-and-bitflyer\">had attempted<\/a> to acquire the Korean exchange Bithumb.<\/p>\n<p>Earlier, Changpeng Zhao said that Binance annually <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-pursues-up-to-50-acquisitions-a-year\">conducts between 30 and 50 deals<\/a> concerning the acquisition and purchase of other projects.<\/p>\n<p>Subscribe to Forklog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Binance unit in South Korea will cease operations at the end of January 2021 due to low trading volume, according to journalist Colin Wu.<\/p>\n","protected":false},"author":1,"featured_media":33924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,974],"class_list":["post-33923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33923"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33923\/revisions"}],"predecessor-version":[{"id":33925,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33923\/revisions\/33925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33924"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}