South Korea announced that it would "nurture" eight sectors of the national economy, including the blockchain, investing 5 trillion won (about $ 4.4 billion) next year, reports the average local Yonhap Monday, August 13th.
According to the result of a meeting involving the country's finance ministry, the government decided to increase the amount spent on areas such as blockchain, big data and artificial intelligence (AI) by 65% compared to the 2018 estimates .
"Measures will help facilitate the economic platform, which in turn will help to accelerate innovative growth," the publication said citing the ministry.
Over the next five years, the figure could rise to 10 trillion won, Finance Minister Kim Dong-yeon added  Adding to its medium-term plans, the Ministry of Finance also revealed that Monday "would simulate" 10,000 specialists in those same sectors until 2023, at a cost of 60 billion won (about 53 million dollars).
Back blockchain technology is not new to South Korea, Seoul is increasingly interested in securing its place at the wheel of innovation around the world.
As Cointelegraph reported last week, a scheme dedicated to youth training sponsored by the Ministry of Science and ICT will begin again in September, focusing on blockchain, AI and other areas as a means of alleviating youth unemployment and matching promising candidates with the right positions.