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Busan to build a blockchain technology innovation support center...KRW 3.7 bln investment

According to Yonhap News,

Busan-si said on May 27 that it decided to build a blockchain technology innovation support center for the first time in Korea, signing an MOU with the Korea Internet&Security Agency(KISA) and Busan Technopark.

Previously, Busan-si was the only city selected for a regional blockchain technology innovation center establishment project, hosted by the Ministry of Science and ICT.

Accordingly, the city is to create a technology innovation support center, to act as a control tower for blockchain technology companies, on the 8th floor of the Busan International Finance Center (BIFC) by putting in KRW 3.73 billion of the national and the municipal budget.

The city plans to discover companies developing convergence technologies applying blockchain technology, and provide systematic support for commercialization customized to each company, including education, seminar, and consultation.

It will also foster a region-specific blockchain development environment, such as application of Non-Fungible Token (NFT), discover demonstration cases, and create a blockchain technology experience space.

Meanwhile, Busan-si built 'B-Space', a support facility for blockchain startups on the 21-22 floors of BIFC, and began operation in March.

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Source: Yonhap News (May 27, 2021)