South Korea will invest in fintech and blockchain for 2022
The Seoul government announced its plans to allocate more than $ 1 billion in blockchain startups and various technologies for 2022
The South Korean government plans to use the Seoul Innovation Growth Fund to stimulate and help new companies that have several investment problems with the series A financing rounds. Therefore, the fund will emphasize new companies creation that relate to the blockchain industry and the latest technology.
The statement on the news affirms that the Seoul government will invest about 6 to 7 million dollars per company in London and Silicon Valley, while in Korea it will invest only 1.1 million dollars.
It is worth remembering that last month the city government launched the Blockchain Governance Team of Seoul formed by 100 employees whose purpose is to examine the potential of the applications of distributed technology in various governmental entities.
For its part, the director of the economic policy department of the Metropolitan Government of Seoul, Jo In-dong, said: “Innovative investments in startups will be the cornerstone of corporate growth that creates innovation in our society and will be a critical impetus for the growth of innovative companies. “
L.Sáenz
Source: Cointelegraph
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