Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, and the two platforms have been operating completely separately since the Fall of 2022. 

In the press release from Jan. 11, Huobi Global, which rebranded to Huobi in Nov. 2022, confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea.

According to the statement, in Oct. 2022. the About Capital fund became the largest shareholder and actual controller of Huobi Global, but the deal didn’t include Huobi Korea's shares, which belonged to Huobi Global's shareholders and were divested in the corporate structure. As the release goes:

“Huobi has no relationship with Huobi Korea and is unaware of their upcoming plans in the region. However, Huobi has heard from the Korean user community and will continue to monitor the progress of the matter.”

Huobi’s platform serves Korean users among others and has an option for the Korean language, however, these operations have nothing to do with its former subsidiary. 

(By DAVID ATTLEE)