As updated in a previous Coincu News article, the arrest warrant for Do Kwon and 5 other people related to TerraForm Labs was issued by Korean authorities on September 14. However, Do Kwon is in Singapore. The two countries do not have a bilateral extradition treaty, so it is difficult to enforce the arrest warrant issued by the South Korean authorities.
Local outlet Munhwa Ilbo reported on September 15 that prosecutors requested the invalidation of five passports belonging to former Terraform employees of Korean nationality, including Do Kwon and financial officer Han Mo.
The Ministry of Foreign Affairs immediately moved to order the return of their passports and impose a refusal of new passport issuance. It would take about a month for the passport invalidation to come into effect.
As Kwon is currently in Singapore as a result of his previous Employment Pass (EP), this allows qualified foreign entrepreneurs to start and operate a business in Singapore, citing Ministry of Manpower filings ( MOM).
Meanwhile, as reported by The Straitstimes Singapore, the founder of Terra has applied to renew his EP, which expires on December 7 and has been rejected.
This was difficult to do as the South Korean authorities proceeded to invalidate his passport to force him back.
The Ministry of Manpower (MOM) reserves the right to refuse to renew an employment application if it finds that there is a violation of the law. Some foreigners have had their employment cards revoked after they were found guilty of carrying out government-imposed lockdowns in 2020.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
This website uses cookies.