SK Group, the third-largest conglomerate in South Korea, has unveiled plans to create its own altcoin in partnership with its investment arm SK Square. This groundbreaking move establishes SK Group as the first major financial conglomerate in South Korea to consider issuing a cryptocurrency. In addition to this, the conglomerate is actively working on developing a Blockchain service that will simplify the issuing process for its partners. These two ambitious projects are still in their early stages, but the goal is to launch the altcoin by the end of the year through an initial coin offering (ICO). However, due to the current ban on ICOs in South Korea, SK Group is exploring alternative options such as foreign issuance or patiently waiting for a more favorable regulatory environment. The newly elected President Yoon Suk-Yeol has promised to introduce crypto-friendly regulations, which could potentially pave the way for SK Group’s altcoin venture.
