The South Korean government has called on the nation’s private sector to seize a “golden” opportunity to take the lead in the global blockchain market – and plans to fund a new spate of blockchain-related projects in its next budget.
Per Fn News, Seoul’s Vice Minister of Strategy and Finance Koo Yun-cheol held a special meeting with a number of blockchain-related firms and private sector experts on Apri 17, as part of a wider Financial Innovation Task Force initiative aimed at creating new growth engines.
Koo told attendees that the government believes that the size of the blockchain industry will grow by more than 80% per year on average, and mentioned the importance of “preemptive” action from the private sector, with “effective government support” to be provided “in stages.”
Koo stated,
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