According to the Chosun Ilbo report, Huobi South Korea announced that it has changed its name to "High Block" and became an independent South Korean company. The major shareholder of the new company is Houbi Blockchain, and the other major shareholder is Korea Real Estate Trust. Previously, Huobi South Korea's largest shareholder was Huobi Technology (now Xinhuo Technology), a subsidiary of the former Huobi Global, holding about 70% of the shares. The relationship between Huobi Korea and its global parent company has recently been completely resolved. Last December, Huobi founder Li Lin sold his entire stake in Huobi Global, and Huobi Technology at the time also sold its stake in Huobi Korea. The relationship between Huobi Korea and its global parent company has recently been completely resolved.