South Korea plans to include crypto companies in the category of startups to enjoy policy benefits

According to Foresight News, according to The Block, the South Korean Small and Medium-sized Risk Enterprises Department issued an announcement today, announcing that it plans to amend the current "Special Law on Promoting Risk Enterprises", intending to allow virtual asset trading and brokerage service providers to register as "risk enterprises", so that they can qualify for relevant government support policies.


In South Korea, risky enterprises refer to small and medium-sized enterprises or start-up companies that have been officially certified by the government. They must meet certain standards in terms of investment scale, R&D intensity or technical evaluation before they can obtain certification and enjoy preferential policies such as tax reduction and financing support. Under current regulations, since 2018, blockchain-based crypto asset transactions and brokerage companies have been excluded from the scope of risk enterprise certification, and have been classified as the same restricted industry as bars, nightclubs and other places.

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