CEO of Binance Richard Teng will travel to South Korea to strengthen cooperation with regulators and emphasize investor protection.
Visit to South Korea
Teng will visit South Korea next week, as confirmed by the company. The visit coincides with Seoul's accelerated efforts to formalize oversight of the digital asset sector. His itinerary includes appearances at the World Knowledge Forum and Cyber Summit Korea 2025 hosted by the National Intelligence Service.
Compliance and Partnerships
Binance has been actively working to align itself with Korean authorities through compliance initiatives and law enforcement partnerships. In August, the exchange received a certificate of appreciation from the Korean National Police Agency for assisting in cybercrime investigations and crypto fraud cases.
GOPAX Deal Remains in Limbo
Despite these efforts, Binance's acquisition of the local exchange GOPAX remains stalled. Korean regulators have yet to grant final approval, wary of allowing greater foreign ownership in a tightly controlled sector. This underscores the challenges global exchanges face in penetrating South Korea's heavily regulated crypto market.
Teng's visit highlights the importance of regulatory compliance in fostering trust in the digital asset industry as Binance seeks to solidify its presence in South Korea.
