South Korea Set 2019’s Budget for Blockchain Industry Tripled This Year

[ChainDD report] November9 (ChainDD) in a meeting held on the industry related to distributed ledger technology (DLT) and blockchain technology, South Korea’s vice minister of Health and Welfare announced that ministers of several government departments participated in the meeting agreed to increase next year’s budget for development of blockchain technology and relevant industry to about $35 million, tripled the budget of this year, according to a report of Korea Economic Daily on November 8.

The report said, the Ministry of Information and Communication will take charge of offering blockcahin startups technical, verificational, and consultant services.
“Everyone agrees that the blockchain is a technology [that will] change the future.” We need to grow the market and also need institutional and legislative support from the parliament, said the vice minister of Science and ICT.


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