South Korea’s Ministry of Science and Technology and KISA to Invest $14.5 Million to Promote Blockchain Development

According to ChainCatcher, South Korea's Ministry of Science and ICT and the Korea Internet & Security Agency (KISA) plan to launch a blockchain support program in 2024. The two agencies will jointly invest approximately 20 billion won (approximately US$14.5 million) to develop public blockchain services and promote the commercialization of blockchain company products.

Public blockchain projects that the initiative will support include digital coupons, digital badges and online voting systems related to central bank digital currencies (CBDCs).