According to Bloomberg, last week a South Korean official travelled to Serbia to seek assistance in the hunt for Do Kwon.
The prosecutors' office in Seoul confirmed those reports on Tuesday.
It also stated that one of its team members visited the Balkan country with a senior Justice Ministry official, which is not false.
In December, it was reported that Terraform Labs Founder Do Kwon is likely to be in Serbia.
As previously reported, Do Kwon refused to confirm his departure from Singapore or reveal his current location during an interview on the Unchained podcast.
On September 26, Interpol issued a red notice for Terraform Labs CEO and co-founder Do Kwon.