South Korea to launch $14.5 million blockchain support program for public and private sectors

The South Korean Ministry of Science and ICT and the Korea Internet Security Agency (KISA) will jointly launch a blockchain support program in 2024. These two organizations plan to invest 20 billion Korean won (approximately $14.5 million) to develop public blockchain services and promote the commercialization of blockchain company products. The public blockchain projects supported by this program include digital coupons, digital badges, and online voting systems related to central bank digital currencies (CBDCs).