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The world’s largest crypto exchange BINANCE plans to re-enter the South Korean market amid its mission to expand in Southeast Asia. Binance’s CEO “CZ” announced his plan to re-enter South Korea in an interview with Korean media at the VivaTech 2022 in France.
Binance To Re-Enter the South Korean Crypto Market
Binance’s CEO is currently visiting many Southeast Asian countries to establish its leadership in the next wave of blockchain and web3 developments through expansion and partnerships. In order to complete its mission, the South Korean expansion will be the most important for Binance.
South Korea has one of the world’s largest crypto economies, an excellent talent pool, and a startup community, which is still an attractive market for Binance. The crypto exchange exited South Korea in January 2021 as the product didn’t perform well due to bad UX. However, the firm is in a better position now to enter the market.
Binance CEO “CZ” in an interview with South Korea’s Maeil Economic Daily said:
“We are looking at re-entry into Korea. A good time for recruiting key talent and M&A is approaching. In order for Web 3.0 to become a reality, popularization is ultimately the key, and Binance’s ultimate goal is to become a platform for this.”
