Binance has purchased a majority stake in South Korean crypto exchange GOPAX, re-entering the country’s crypto market after a two-year absence. Due to low usage, the world’s largest cryptocurrency exchange by trading volume will close its affiliate in South Korea in December 2020. The deal’s terms were not disclosed. Binance’s investment in GOPAX was made possible by the Industry Recovery Initiative, which Binance leads and committed $1 billion to in November in response to the fallout from FTX’s demise.