South Korean crypto lending company Delio has expressed concerns about its ability to provide normal services to clients after having its assets seized by a local financial regulator. Delio explained that an ongoing legal battle with depositors and a search and seizure of the company's assets on July 18 resulted in the seizure of all assets owned by customers and the company, as well as other cold wallets and ledgers. The company has suspended interest payments for its deposit and vault users as of July 24 and has suspended services that require additional expenses. Delio is one of South Korea's largest crypto lending platforms, holding approximately $1 billion in Bitcoin, $200 million in Ether, and approximately $8.1 billion in altcoins.

South Korean encrypted financial company Delio announced that it will suspend some services and stop paying interest on virtual assets. During the July 18 seizure, all assets owned by the client and the company were confiscated by prosecutors, Delio said.

South Korean Web3 data and intelligence platform, Xangle, has formed a strategic partnership with US-based advisory firm, Republic Crypto, to promote the adoption of Web3 technologies among Korean enterprises. Xangle clients will gain access to Republic Crypto's experience in Web3 execution, including blockchain infrastructure setup, digital asset management, and tokenomics design.

South Korean pop star and TV personality Seo Chul-goo, also known as Xitsuh, revealed on the E Channel TV talk show "Love of a Lifetime" that he lost between $61,230 and $77,000 on bad cryptocurrency investments.

South Korean financial regulators have released a "plan to improve accounting transparency for cryptocurrencies," requiring crypto companies to disclose information about cryptocurrencies in the notes to financial statements from the next accounting year.

South Korean blockchain gaming company Wemade's WEMIX foundation has become a Subcommittee member of the Mythos Foundation, a US-based Web3 game studio backed organization. The partnership aims to advance and standardize Web3 gaming within the Mythos ecosystem, which has over 20 governance partners.

July 4 (Cointime) -South Korean encryption exchange Upbit has opened the NFT deposit, withdrawal and trading functions based on Ethereum.

June 30 (Cointime) - South Korean crypto lending firm Delio is being investigated by the country's Financial Services Commission (FSC) for fraud, embezzlement, and breach of trust related to the suspension of users' deposits and withdrawals on June 14. Delio's CEO and management staff have been barred from leaving the country pending an investigation by prosecutors. Delio is one of South Korea's largest crypto lenders, holding an estimated $1 billion in Bitcoin (BTC), $200 million in Ether (ETH), and $8.1 billion in various altcoins. Delio's sister firm, Haru Invest, also suspended withdrawals and deposits on June 13 due to an issue with a "consignment operator."

June 23 (Cointime) - South Korean mobile company KT has announced its plan to invest $5.3 billion in AI service research and development over the next five years. The company aims to exceed $764 million in annual sales from AI businesses by 2025. KT's strategy includes AI-driven robots, care, and education, as well as AI contact centers and logistics business, all of which are customer-customized AI services. The company plans to expand internationally, partnering with Singapore's top telecom company, Singtel, to introduce an AI transportation platform, and commercializing AI care services in Vietnam.

June 22 (Cointime) - Haru Invest, a South Korean cryptocurrency yield platform, is reportedly ending contracts for over 100 employees due to difficulties with normal company management. The platform had previously paused withdrawals and deposits, citing issues with service partners. The contracts are set to end on Friday, according to reports. Despite rumors of malicious intent, co-founder and former CTO Eunkwang Joo stated on Twitter that Haru Invest's internal situation is not a "rug pull."