According to the Chosun Ilbo report, Leon Foong, who is in charge of Binance’s Asia-Pacific region, was appointed as the new CEO of Gopax, a South Korean cryptocurrency exchange that was recently acquired by Binance. Other new Gopax internal directors include former Binance director Steve Young-Kim and Ji Yu Zhao (Head of Industry Recovery Initiative, Binance). Most of Gopax's board members come from Binance. Earlier this month, according to Bloomberg News, Binance has acquired a majority stake in South Korean exchange Gopax. The funds for this acquisition come from Binance’s previously launched $1 billion “industry recovery plan.” The specific terms of the acquisition were not disclosed.