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South Korea Invests $16M in Building Digital Assets Experts

The Korean Financial Services Commission (FSC) announced plans to fully develop the financial industry to implement fintech technology by investing $16 million to conduct digital assets expert training programs for four years.

The committee pointed out that the plans were developed due to the increasing demand for experts in the areas. Moreover, the FSC explained that they are aiming to provide educational opportunities for newer generations to have more knowledge on the matter and paving paths for the future.

The program will take place in the financial center, Yeouido district, in Seoul between the third quarter or the second half of 2020 to 2023. This opportunity is open for both employees and entrepreneurs in the financial industry.

Applicants can choose one of the two curriculums: degree and non-degree programs. Both programs will be open to different numbers of students. They cover high-level theories and intensive workshops of the ecosystem such as Cloud Computing, Big Data, and Blockchain.

South Korea’s Pursuit of Cryptocurrency Industry

Over the last two years, the Korean Financial Services Commission’s legislation landscape saw drastic changes including the Internet Banking Act, the Fintech Innovation Act, and the tighter rules for Peer-to-Peer lending.

The Korean Financial Services Commission also has plans to support the financial technology industry through regulatory sandbox. Since last December, a total of 77 projects were freely implemented and tested via the sandbox. Some of these will be adopted by government agencies and find their way to revolutionize the digital sector in the future.

You may also want to read: 84 Patents for CBDC Filed by China, Paving Its way for Digital Yuan

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SuperCryptoNews is Asia’s leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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