South Korea’s Plastic Surgeon Invests $352mln. In Bithumb Holding Firm

A consortium headed by well-known plastic surgeon of South Korea, Dr. Kim Byung Gun, has completed a key investment in crypto exchange Bithumb’s holding company.

The surgeon’s BK Global Consortium has concluded an agreement to get “50 percent plus one share” of BTC Holding Co. – the major investor in Bithumb – for approximately 400 billion won ($352 million). The Bloomberg report states that BK Global Consortium was previously the “fifth-largest” shareholder of BTC Holding.

According to Bloomberg’s source, the deal is anticipated to be finalized in February 2019.

Notably, in Singapore last year, Dr. Kim Byung Gun also setup a firm for Initial Coin Offering (ICO) analysis, according to a profile published in May by Korea Joongang Daily.

The firm supposedly plans to assist individual investors segregate scams and “promising project models,” amid the surgeon’s worries about the pervasiveness of Ponzi schemes and other dubious offerings in the crypto space.

The profile explains how the surgeon, who is reported to have generated so much of wealth by investing in tech and bio startups, “has caught the blockchain fever.”

According to CoinMarketCap, Bithumb is currently the world’s second largest exchange by reported daily traded volume.

Bithum is planning to open an international decentralized crypto exchange (DEX) with technical support from blockchain firm One Root Network (RNT).