Huobi Clarified No Relationship with Huobi Korea, Continues to Focus on User Needs in Korea
Singapore
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January 10, 2023 11:51 PM Eastern Standard Time
On January 11, in response to media reports related to Huobi Korea's share change, Huobi responded that Huobi Korea is not a subsidiary of Huobi, and its shares belong to the former Huobi Global's shareholders and have no relationship with Huobi. However, Huobi is taking note of the remarks made by the Korean user community and will continue to monitor the progress of the incident.
Cointelegraph cited a report by Korean media outlet New1 that Huobi Korea would acquire the shares in the hands of Huobi Global and change its name on January 9. It was reported that 72% of Huobi Korea's shares belong to Leon Li ,who founded Huobi Global in 2013, and Huobi Korea Chairman Cho Kook-bong will hold these shares after the acquisition.
In October 2022, Huobi Global completed the share transfer. The acquirer was the M&A fund of About Capital, which also became the largest shareholder and actual controller of Huobi Global. In November 2022, Huobi Global completed a brand upgrade, updating its brand name to Huobi and proposing to develop its operations in various regions around a global development strategy.
Huobi revealed that last year's acquisition did not include Huobi Korea's shares, which belonged to Huobi Global's shareholders and were divested in the corporate structure. Huobi has no relationship with Huobi Korea and is unaware of their upcoming plans in the region. However, Huobi has heard from the Korean user community and will continue to monitor the progress of the matter.
Huobi's official website and the app currently serve users in several regions worldwide, offering multiple language versions, including English, Korean, Japanese, etc. Huobi says that Korean users have always been able to transact through the main Huobi website and will continue to focus on users' needs in the region and provide necessary assistance to users in the region.
According to media reports, in 2022, the number of users crypto asset exchanges in the South Korean was 15.25 million. The number of users participating in transactions also reached 5.58 million, with 54% of users under 40, making it one of the few regions with the most active crypto users worldwide. And according to a related report by HuobiResearch, the global crypto population has reached 320 million people, with Asia accounting for 40% of the total.
His Excellency Justin Sun, member of the Huobi Global Advisory Board, announced at the Huobi upgrade conference that they would vigorously promote globalization while focusing on localized operations in Asia. In a subsequent interview with the media, he also expressed his confidence in the prospects of the Asian market, including the Korean region, which will be the first to recover in the Q1 of 2023. On January 9, the cryptocurrency market saw a sharp rise, with Bitcoin prices returning to $17,400 and Ethereum prices rising by about 10%.
About Huobi Group
As a world-leading company in the blockchain industry, Huobi Group was founded in 2013 with a mission to make breakthroughs in core blockchain technology and integration blockchain technology with other industries. Huobi Group has expanded into public blockchains, digital assets trading, wallets, mining pools, proprietary investments, incubation, digital asset research, and more. Huobi Group has established a global digital economy industry ecosystem by investing in over 60 upstream and downstream companies in the blockchain industry.
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