Binance announced the signing of a memorandum of understanding with the city of Busan, South Korea to promote the development of the local blockchain industry and promote the Busan Digital Asset Exchange. The specific initiatives of the cooperation between the two parties include using Busan's blockchain-free zone to promote local blockchain development, supporting blockchain-related research and investment in the city, providing blockchain education and online resources from Binance Academy, Charity improves social welfare and helps organize Busan Blockchain Week 2022. Additionally, Binance stated that it will launch operations in Busan by the end of this year.