Cryptocurrency Exchange Development Company South Korea
ApziX is a top cryptocurrency exchange development company serving South Korea and the surrounding region. We provide reliable and fully compliant cryptocurrency exchange development services for entrepreneurs who want to launch their own cryptocurrency exchange in South Korea.
Before explaining our services, let’s understand why South Korea is a strong market for cryptocurrency exchanges by exploring the cryptocurrency market, regulations, taxation, trends, and future opportunities.
Cryptocurrency Market in South Korea
South Korea is the third-largest cryptocurrency market in the world, after Japan and the United States. Although cryptocurrencies are not legal tender, South Koreans actively invest in digital assets. The adoption of cryptocurrencies has grown significantly, supported by exchanges like LocalBitcoins, Bithumb, and Upbit. Despite regulatory oversight, trading volumes have increased sharply, making South Korea a promising market for new cryptocurrency exchanges.
Cryptocurrency Regulations in South Korea
South Korea has established a regulatory framework for cryptocurrencies, focusing on user protection, market integrity, and compliance with international standards. Key regulations include:
Virtual Asset User Protection Act (VAUPA)
Effective July 19, 2024, the VAUPA is South Korea's first omnibus digital asset legislation. It aims to strengthen consumer protection and market integrity by imposing additional requirements on registered Virtual Asset Service Providers (VASPs). The Act grants the Financial Supervisory Service (FSS) authority to supervise VASPs, enhancing oversight and accountability.
Exchange Licensing and Registration
All VASPs must register with the Korea Financial Intelligence Unit (KoFIU) and obtain security certifications. They are also required to establish real-name accounts in partnership with banks and implement robust Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.
Implementation of the FATF Travel Rule
Since March 25, 2022, South Korea has enforced the Financial Action Task Force (FATF) Travel Rule, requiring VASPs to collect and share specific transaction information for transfers exceeding KRW 1 million (approximately USD 800). This includes details such as the originator's and beneficiary's names and wallet addresses. Failure to comply may result in penalties.
Regulation-Free Zone in Busan
In August 2019, Busan was designated as a regulation-free zone for blockchain and crypto development companies. While this zone offers certain regulatory relaxations, it imposes restrictions on Initial Coin Offerings (ICOs) and stablecoins. It serves as a hub for investment and development in the blockchain sector.
Cryptocurrency Taxation in South Korea
South Korea has implemented clear taxation rules for cryptocurrency transactions:
Corporate Income Tax: 11% – 27.5%
Corporate/Individual VAT: 10%
Income Tax: 6.6% – 44.2%
Capital Gains Tax: 6.6% – 44.2%
Inheritance & Gift Tax: 10% – 50%
These regulations apply depending on whether cryptocurrencies are classified as property or currency. For detailed guidelines, refer to the National Tax Service (NTS).
Cryptocurrency Exchanges in South Korea
Upbit
Founded 2017, operated by Dunamu Inc. Became the dominant exchange in South Korea, offering KRW-trading pairs and strong local market share.
Bithumb
One of the older major exchanges (founded ~2014). Large user base in Korea.
Coinone
Founded 2014; supports KRW deposits and has strong local partnerships.
Korbit
One of the first Korean exchanges (launched ~2013). Still active in the domestic market.
GoPax
GOPAX is a centralized cryptocurrency exchange based in South Korea (operated by Streami Inc.) and founded/Launched around 2016–2017.
The Future of Cryptocurrency in South Korea
South Korea is rapidly advancing its cryptocurrency ecosystem through clearer regulations and improved taxation frameworks. Although digital assets are not recognized as legal tender, the nation’s strong technological infrastructure and growing investor interest continue to fuel market expansion.
With the government focusing on transparency, investor protection, and compliance, the crypto sector is moving toward greater legitimacy. For entrepreneurs and startups looking to build platforms like Bithumb, Upbit, or LocalBitcoins, this landscape presents a strategic opportunity. Entering the market now means being part of a fast-growing ecosystem that balances growth with regulation creating an ideal environment for sustainable crypto exchange businesses in South Korea.
Our Cryptocurrency Exchange Development Services in South Korea
ApziX provides complete blockchain and cryptocurrency development services across South Korea and Asia, including:
Cryptocurrency Exchange Development
Cryptocurrency Wallet Development
Decentralized Exchange (DEX) Development
Private Blockchain Development
Token Development
Smart Contract Development
DApp Development on Multiple Blockchains
We provide 100% source code ownership and offer clones of popular exchanges like Bithumb and LocalBitcoins, ensuring a fast and secure launch.
Final Thoughts
Launching a cryptocurrency exchange in South Korea can be an exciting and rewarding venture, given the country's strong technological infrastructure and growing interest in digital assets. However, navigating the complex regulatory environment and building a platform that stands out in a competitive market requires expertise and strategic planning.
At ApziX, we offer more than just cryptocurrency exchange development From initial consultation to post-deployment support, our team of professionals is committed to guiding you through every stage of the process. Our solutions make sure your exchange is secure, compliant, and optimized for user experience and scalability.
Whether you're targeting local or international users, ApziX is here to help you build a sustainable and profitable crypto exchange in South Korea. Reach out today to start your journey with a trusted partner by your side.Start your cryptocurrency exchange in South Korea with ApziX. Get expert guidance on development, compliance, security, and scalability for a profitable platform.
