Binance plans to enter South Korean market through acquisition of Gopax

Binance has concluded its investigation into the purchase of Gopax, a South Korean cryptocurrency exchange, and is now back in the country.

The acquisition, first revealed in December 2021, experienced some setbacks due to final negotiations.

Changpeng Zhao, the CEO of Binance, has expressed his interest in returning to the South Korean market, a major hub for cryptocurrency economies.

Binance is currently in the process of obtaining a majority share of Gopax, which is owned by CEO Lee Jun-haeng.

The South Korean government has put into place strict guidelines on international virtual asset providers with the intention of preventing money laundering and defending their citizens.