Houbi Korea announced today that it changed its name to "High Block" and officially became an independent Korean company.

Houbi Korea previously entered South Korea after Houbi Global, which was headquartered in Singapore at the time, established a Korean company in 2017. The previous largest shareholder of Houbi Korea was Huobi Technology (now Xinhuo Technology), a subsidiary of the former Houbi Global, holding about 70% of the shares. The relationship between Houbi Korea and its global parent company has recently been completely resolved. Last December, Houbi founder Li Lin sold his entire stake in Houbi Global, and then Huobi Technology also sold his stake in Houbi Korea.

The new major shareholder of Houbi Korea is the existing second largest shareholder, Houbi Blockchain, a Korean legal person. Another major shareholder of Houbi Korea is Korea Real Estate Trust, which holds a 12% stake in Houbi Korea. It is reported that Houbi Korea only changed its name and shareholders, and there will be no major changes in the management team and overall management.