South Korea grows from strength to strength as 2019 approaches, closing a tumultuous year on cryptocurrency markets and heralding another year of optimism for the Asian powerhouse.
In many ways, it is countries such as South Korea and Switzerland who have struck the path in terms of how to attract blockchain investment in 2018. The government has led the way in South Korea and this year, significant projects have shown the world the country’s real intent to become the place investors and new startups head for.
In October, Seoul Mayor Park Won-soo launched the Block City Seoul City Plan which puts in place USD 100 million as a blockchain industry fund to cultivate blockchain projects including plans to invest USD 53 million in the Gaepo Digital Innovation Park and Mapo Venture Center. Two local districts are also due to be constructed to support 200 high-quality blockchain projects train local industry experts.
The plan to build the two new blockchain incubation centers is designed to pull in even more business and expand the fintech job market in South Korea. Chainers Inc, a blockchain business development and advisory service in South Korea, will examine, review and recommend prospective blockchain projects, closely collaborating with related departments in government.
Also, South Korean Parliamentarian Park Joo-sun has set up a 16 representative committee of government members to look at further legislation for the industry which will have the power to suggest changes in national law.
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