Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
Binance CEO to visit Korea to promote exchange's compliance
Binance CEO Richard Teng / Courtesy of Binance
By Lee Yeon-woo
Richard Teng, CEO of Binance, is scheduled to visit Korea next week, one of the world’s largest cryptocurrency exchanges said Thursday. He is expected to underscore the importance of user protection and regulatory compliance during the trip.
Teng’s visit comes amid Korea’s accelerating efforts to institutionalize the crypto industry. He plans to meet with a broad range of stakeholders to explore collaborative measures aimed at building a sustainable crypto ecosystem in the country.
His official engagements include the World Knowledge Forum on Tuesday and a keynote dialogue at Cyber Summit Korea 2025, hosted by the National Intelligence Service, on Wednesday.
Binance has been working to strengthen user protection and market transparency in Korea, including the development of cross-border cooperation frameworks with law enforcement agencies.
On Aug. 27, Binance received a certificate of appreciation from the Korean National Police Agency at the 2025 International Symposium on Cybercrime Response. The award recognized the exchange's contributions to preventing and responding to cyber and virtual asset-related crimes in Korea.
This marks the second such commendation, following one in 2023, making Binance the only overseas exchange to receive multiple certificates of appreciation from Korean authorities.
“In a rapidly evolving regulatory landscape, investor protection and international cooperation are essential,” Teng said. “Only then can the virtual asset industry earn its place as a trusted part of the financial ecosystem.”
He added, “Given Korea’s significant role in the global virtual asset industry, I look forward to engaging in meaningful discussions with a wide range of stakeholders during my visit.”
Since 2023, Binance has been seeking to acquire local cryptocurrency exchange GOPAX as a gateway into the Korean market. However, the process has stalled for over two years, with regulators delaying approval and effectively blocking foreign capital from entering the domestic crypto industry.