According to local media, South Korea plans to develop eight sectors of its domestic economy by investing around $4.4 billion in 2019. The blockchain industry is among these sectors.
Other areas of interest include big data and artificial intelligence. The government decided to increase investment in these sectors by 65% compared to 2018. “The measures will help facilitate the platform economy, which in turn will help speed up innovative growth,” reads the Finance Ministry statement.
South Korea is known for its support of blockchain tech. For example, the Ministry of Science announced a youth training program that will focus on blockchain, AI, and other tech areas. The program aims to eliminate youth unemployment and to support further development of country’s domestic IT infrastructure.