First Korean Corporation Joins the Bitcoin Race With Bold Accumulation Plan

South Korea has entered a new phase of Bitcoin adoption.

The publicly listed Bitplanet has begun a daily Bitcoin purchasing program, marking the first time a Korean firm has openly added the asset to its balance sheet.

The company, backed by Metaplanet’s Simon Gerovich, started its campaign with the purchase of 93 BTC, signaling the start of a long-term effort to reach 10,000 BTC. Co-CEO Paul Lee called the approach a measured step toward integrating Bitcoin into corporate finance, emphasizing that every transaction is being logged through national compliance systems.

Bitplanet’s transformation has been months in the making. Originally an IT and cybersecurity provider under SGA Co., Ltd., the firm rebranded in August during Bitcoin Asia 2025, revealing a $40 million budget for crypto accumulation. The pivot, supported by Sora Ventures and other institutional players, aims to establish a network of Bitcoin-treasury companies across Asia.

Read More:

Strategy’s Bold Bitcoin Play: Hundreds of BTC Added This Week

This bold move comes amid a renewed rally in the crypto market. After a turbulent start to October that erased billions in leveraged positions, Bitcoin has bounced back above $115,000, helped by expectations of a U.S. rate cut and rising inflows into Bitcoin and Ethereum ETFs.

Bitplanet, listed on KOSDAQ (049470), remains financially sound with roughly $55 million in annual revenue and $3.4 million in profit, giving it a stable footing for its new direction. The company is also preparing for South Korea’s upcoming Digital Asset Basic Act, expected in 2027, which will formalize corporate rules for token holdings.

Lee said Bitplanet is already aligning with the law’s anticipated standards to ensure a seamless transition once the framework is in place.