The South Korean government pledges support to new blockchain companies to facilitate industry growth

The Korean Ministry of Information and Communications Science and Technology (MSICT) has pledged more support to facilitate the growth of the national blockchain industry, Business Korea reported on September 21.

The Second Minister of Science and ICT, Min Won-ki, held a meeting with the new block chain companies as part of the government’s efforts to establish contact with organizations in what he has called the 10 key ICT sectors of the Fourth Industrial Revolution.

The agenda of the meeting was dedicated to pilot projects of block chains initiated by the government to strengthen the market of block chains and improve public services with an investment of 4.2 billion won (3.7 million dollars). Participants examined the use of blockchain technology in customs clearance, livestock origin and real estate transactions. Min said:

“Considering the fact that there is no significant technological gap between South Korea and the other countries, it is a good opportunity for South Korea to lead the industry, and the government will actively support domestic companies to help them lead the global market. chain blocks. “

The blockchain startups highlighted the need to form a blockchain environment based on the cloud, provide support for research and development in the private sector, and create a healthy competitive environment among national and foreign blockchain developers.

Although the government of South Korea has banned all kinds of initial offers of currencies (ICOs) and has not developed a related policy, since the country is known for its proactive approach to the adoption of blockchain

In early September, an association initiated by the MSICT initiated a six-month training course to convert forty-two applicants into “block chain specialists”, with the aim of increasing the availability of qualified professionals in the booming economy of the block chain of South Korea

Earlier this month, Cointelegraph also reported that the Korean Customs Service had signed an agreement with Samsung SDS to deploy blockchain technology in its customs clearance system. The customs services expect to streamline and ensure the exchange of documents at each stage, from the customs declarations of the exported goods to the delivery.

 Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.


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