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K Bank IPO: CEO Dismisses Upbit ‘Bank Run’ Concerns Ahead of Stock Market Debut
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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
The K Bank IPO is set to go ahead later this month, with its CEO dismissing lawmakers’ concerns about its partnership with the crypto exchange Upbit and “bank run” fears.
Per 4th Journal, K Bank CEO Choi Woo-hyung faced journalists’ questions at a press conference on October 15 in Yeouido, Seoul, South Korea.
Choi said a bank run from Upbit customers mass-withdrawing their money from the K Bank platform was “highly unlikely.”
The CEO was speaking in the wake of comments from the lawmaker Lee Kang-il, of the Democratic Party of Korea.
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