Korea
Korean financial watchdog to block tens of unregistered exchange websites
Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms. The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes of KuCoin, Poloniex and Phemex, were listed alongside 13 other exchanges that are set to be hamstrung by the FIU. All 16 exchanges have purportedly engaged in business activities targeting domestic consumers by offering Korean-language websites, running promotional events targeting Korean consumers and providing credit card payment options for cryptocurrency purchases. These activities all fall under the F...
BTS, Justin Bieber Concerts Boost HYBE’s Quarterly Earnings
Korean music company HYBE, home to K-pop superstars BTS, posted revenue of 285 billion KRW ($226 million) in the first quarter of 2022, the company announced Tuesday (May 3). The result — which marks a nearly 60% revenue increase year over year but a decrease of 37.8% from last quarter — followed a record-breaking year for HYBE in 2021, when the company surpassed $1 billion in revenue for the first time thanks to its acquisition of Scooter Braun’s Ithaca Holdings. The Q1 results were bolstered by a return to large-scale live events, including BTS’ Permission to Dance shows in Seoul in March, which drew over 45,000 fans in person. An additional 1.4 million fans viewed the livestream, which smashed box office records; the March 12 screening alone grossed $6.9 million in North America, making...
Klaytn token down 15% in a month, but network’s TVL shows resilience
Klaytn (KLAY) had a promising start in March 2021, reaching an impressive $11 billion market capitalization following its debut. However, investors have exaggerated their expectations as the token’s current total value stands at $3 billion, down roughly 70%. KLAY/USD on Binance. Source: TradingView Although not as well known as the leading smart contract blockchains, Klaytn remains a top-35 token by capitalization rank. Moreover, the network holds $1.2 billion worth of deposits locked on smart contracts. Capital locked on smart contracts is known in the industry as total value locked, or TVL. Real use cases and strong backing Klaytn is a flexible modular network architecture created by Kakao, a publicly-traded South Korean internet giant. The Asian tech group’s shares are value...
BTS to Perform Three Shows in Korea for Live & Online Crowds
BTS returns to the stage this March. The pop stars will perform three shows in Seoul on March 10, 12 and 13 at the Seoul Olympic Stadium in front of a live audience. The BTS Permission to Dance on Stage – Seoul shows will also be streamed online for fans unable to attend the concerts in-person at the nearly 70,000-capacity venue. The March 10 and 13 dates will be streamed live online, while the March 12 performance will be broadcast in cinemas across the world for live viewing events. Explore Explore BTS See latest videos, charts and news See latest videos, charts and news The latest dates will mark the group’s first concert to a live audience in Korea in roughly two and a half years. The last time they appeared in-person in Korea was for the BTS World Tour ‘Love Yourself: Speak Yourself’ ...
Lee Mujin on Being Billboard K-Pop 100 Rookie of the Year: ‘I’m Still Hungry for More’
At the turn of the year 2021, no one expected that the “Rookie of the Year” on the year-end Billboard K-Pop 100 would go to a male solo artist. Major entertainment companies had introduced brand-new bands such as aespa, ENHYPEN, Treasure and STAYC at the end of 2020 and most of us had our attention on them. To our surprise, a young male singer showed that he was not an ordinary rookie singer by setting the record for most No. 1 appearances on the Billboard K-Pop 100 in 2021. This up-and-coming star singer is Lee Mujin, who was the runner-up in Sing Again, JTBC’s music competition show. Explore Explore Lee Mujin See latest videos, charts and news See latest videos, charts and news Sing Again is a rebirth talent show for unknown singers, including those who have released popular original sou...
25 Best K-Pop Songs of 2021: Critics’ Picks
K-pop expanded its perimeters and scope this year while simultaneously infusing itself into today’s trends and sounds in creative ways. While many acts raised their international profiles with releases that found bigger audiences than ever, the songs that truly soared pushed the limits to represent more than just the stars singing them. While it’d be impossible to capture the brilliance of the K-pop industry in one year-end list, these songs give a snapshot of some of the best that the scene had to offer in a year that was challenging for many but offered inspiration in other ways—including from these 25 songs.
Korea’s New COVID-19 Rules Restrict the BPM of Music in Gyms
In a wave of new COVID-19 regulations impacting gyms, the South Korean government has restricted what type of music patrons will be allowed to listen to. In a move that many perceive to be a blatant overreach, officials are setting the expectation that gyms will not be allowed to play music over 120 BPM (beats per minute) for group fitness classes. That leaves slim pickings for electronic music fans looking to get in the flow during a workout. The new restriction ostensibly impacts group cardio, aerobics, and spin classes, where invigorating music plays an important role. The regulation is especially counterintuitive given that higher BPM songs generally play a critical role in setting an appropriately brisk group fitness pace, thereby leading to productive workouts. As Reuters...
Seoul Community Radio Debuts Online Game “onit.life” in Support of City’s Nightlife
Seoul Community Radio has just released a new online game in support of their city’s nightlife. Titled onit.life, they’ve delivered on their plans to “fuse electronic music culture with the limitlessness of online gaming” with the new experience. The platform will be used to host curated in-game events, the first of which has been dubbed “A Decade of Seoul Parties 2010-2020” and explores the nightlife from the last decade in the capital city. On the game’s YouTube channel, they shared a very short look at the online experience. In the video, you can see the player move through an indoor exhibit featuring artwork and videos from past shows. It then concludes with the player stepping outside into a psychedelic, otherworldly realm with giant...
South Korea’s unification minister visits estuary to renew commitment to inter-Korean cooperation
Unification Minister Kim Yeon-chul is to visit an estuary of the Han River near the border with North Korea on Wednesday in an effort to renew South Korea’s commitment to jointly using the waterway with the communist nation. Under a military agreement signed at a 2018 summit between President Moon Jae-in and North Korean leader Kim Jong-un, the two sides agreed on the joint use of the Han River estuary along their western border and conducted joint waterway research. But the project has stalled since the no-deal summit between the North and the United States in February last year. The unification minister’s visit to the estuary is seen as aimed at sending a message to the North that it remains committed to the project. “The visit has been arranged so that (the minister) can see for himself...
