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Korean Kolon Group’s Honorary President Promotes New Virtual Asset Trading Platform

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It is reported that Li Xionglie, the honorary president of the Korean Kolon Group, promoted the establishment of a joint venture company with Won An, and coope…

Korean Kolon Group’s Honorary President Promotes New Virtual Asset Trading Platform

It is reported that Li Xionglie, the honorary president of the Korean Kolon Group, promoted the establishment of a joint venture company with Won An, and cooperated with the Korean government and financial authorities to establish a new virtual asset trading platform. If the virtual asset trading platform promoted by President Li is approved to be established, the perception of the domestic virtual asset trading market in South Korea may change, and it is expected that it will become a competitor of Upbit. (Korea Economic Daily)

Korea’s Kolon Group will establish a joint venture company with Jeon and cooperate with the authorities to establish a virtual asset trading platform

Interpretation of the news:


The Korean Kolon Group’s honorary president, Li Xionglie, has reportedly promoted the establishment of a new virtual asset trading platform. Li has been working with Won An on this initiative, and they have had support from the Korean government and financial authorities. If approved, the new trading platform has the potential to change the perception of the domestic virtual asset trading market in South Korea.

The virtual asset trading platform proposed by President Li is expected to be a competitor of Upbit, which is currently the largest virtual asset exchange platform in the country. Upbit has enjoyed a significant share of the South Korean market, but the emergence of a potential competitor has the potential to impact its dominance.

Virtual asset trading is a rapidly growing industry, which has attracted a lot of interest from investors and businesses alike. Its emergence has led to the development of various exchange platforms, which function as marketplaces for trading virtual assets. In South Korea, Upbit has been seen as the premier exchange platform, with other platforms operating at smaller scales.

Li Xionglie’s proposed virtual asset trading platform has received support from the Korean government and financial authorities, which indicates the potential for it to gather significant momentum. If approved, the new joint venture company will be expected to offer features that distinguish it from Upbit and other competitors.

The Korean Kolon Group is a reputable business conglomerate in South Korea, which suggests that Li’s involvement in this proposed venture holds a lot of weight. Moreover, by engaging with Won An, a prominent business executive in Korea, Li has established a partnership that brings together two leaders in the Korean business community.

In conclusion, the proposed virtual asset trading platform promoted by Li Xionglie is expected to change the perception of the domestic virtual asset trading market in South Korea. This development is expected to create stiff competition for Upbit and potentially bring other virtual asset exchange platforms closer to its level. The keywords that best describe this news are Li Xionglie, Korean Kolon Group, joint venture, virtual asset trading platform, competition, and Upbit.

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