One of the world’s largest cryptocurrency exchanges Binance is very close to the exit on the market of South Korea, reports Business Korea.

CEO Binance Chanpen Zhao (Zhao Changpeng) over the weekend took part in the conference Blockchain Partners Summit, held in Seoul. In his speech at the summit, he stressed the importance of South Korean cryptocurrency market, adding that his company will join the community.

According to the Korean edition, Binance this year plans to create three to five local companies. In addition, the exchange has added support for Korean language on its official website and hired several specialists in the country.

In particular, Arim Jeon (Jeon Ah-rim), who previously worked in one of the first blockchain-companies of Korea — Chain Partners, became Director of Binance on marketing in the country, and Hand Over Choi (Choi Hyung-won) from Bain&Company topped the Binance Labs.

As noted by Business Korea, the number of users Binance in the country yet. However, this is one of the popular foreign cryptocurrency exchanges from Korean traders.

The planned release of Binance on the South Korean market comes after launching a new trading platform in Uganda — Uganda Binance. Earlier Binance announced the opening of the adjustable crypto currency exchange on the island of Jersey.

Earlier, the financial regulator of South Korea — financial services Commission (FSC) announced the creation of a new Department that will focus on the cryptocurrency market.