Huobi Korea moves to sever ties with the mothership: News1

Jo Guk-Bong, who also owns a crypto mining business, is set to take a majority stake from Leon Lin.

Huobi Korea is set to sever corporate ties with crypto exchange Huobi Global and run its own business, Korean outlet News1 reported.

The Huobi crypto exchange's Korean arm is set to sever ties with Huobi Global and run its own business, according to a report in Korean outletIn doing so, it will negotiate the ownership of equity, the report said. More than half of the existing Huobi Korea was owned by Leon Lin, the founder of Huobi Global. The next major shareholders include Chairman Jo Guk-Bong and Korea Land Trust. Jo, who also owns a crypto mining business, is set to take a majority stake from Lin.

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