- Teng will speak at notable events such as the World Knowledge Forum and give a keynote at Cyber Summit Korea 2025, hosted by the National Intelligence Service
- He plans to meet with regulators, law enforcement officials, and industry leaders to discuss cooperation on market transparency and user protection
- Since 2023, Binance has tried to enter the Korean market through acquiring GOPAX (local cryptocurrency exchange), but regulators have delayed approvals
Richard Teng, CEO of Binance, is expected to visit South Korea next week, where he’ll spotlight the importance of user protection and regulatory compliance. He’ll speak at notable events such as the World Knowledge Forum and give a keynote at Cyber Summit Korea 2025, hosted by the National Intelligence Service.
Teng’s Agenda
During the trip, Teng plans to meet with regulators, law enforcement officials, and industry leaders to discuss cooperation on market transparency and user protection. His trip comes amid renewed efforts by South Korean authorities to formalize crypto regulation.
Teng said ahead of his trip: “In a rapidly evolving regulatory landscape, investor protection and international cooperation are essential. Only then can the virtual asset industry earn its place as a trusted part of the financial ecosystem.”
Last week, Binance received a certificate of appreciation from the Korean National Police Agency for its help in combating cyber and virtual-asset crimes. This is a second such commendation, making Binance the only overseas exchange to earn this recognition twice.
The Real Story: Binance’s Stalled Push into the Korean Market
Interestingly, since 2023, Binance has tried to enter the Korean market through acquiring GOPAX (a local cryptocurrency exchange), but regulators have delayed approvals. Therefore, Teng’s visit is seen as a planned effort to rebuild goodwill and explore collaboration opportunities.
South Korea’s regulatory push shapes Binance’s strategy
South Korea is quickly moving on several fronts, such as drafting stablecoin rules, exploring global data-sharing for crypto transactions, and even updating AML protocols to reflect the evolving digital asset landscape. All of this is likely the reason why Teng is visiting the country right now.
As for Binance, the company recently appointed SB Seker as its new APAC (Asia-Pacific) head, bringing a wealth of experience from his previous roles at Crypto.com and the Monetary Authority of Singapore.
His appointment comes at a time of heightened regulatory inspection in the region (like the AUSTRAC-mandated audit in Australia), showing Binance’s renewed commitment to compliance and improving regulator relations.
With South Korea ranking among the top ten global crypto markets by trading volume, Teng’s visit could prove to be of great importance. Whether Binance secures a deeper entry may depend on how well it aligns with Korea’s evolving regulatory framework.
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