The Korean Blockchain Enterprise Promotion Association (KBEPA) recently saw thousands of their representatives show up alongside Universal Group at the Kim Dae Jung Convention Center in Gwangju where they announced plans to petition the mayor to select the city as a Crypto-Valley District – a move that they hope to see stimulate local economy and jobs.
"We plan to meet Mayor Lee officially to deliver the recommended plans to announce and transform Gwangju into a special governing city for cryptocurrency. We also plan to meet the councilperson Kim Dong-Chan to ask for support," said the executive vice-president of KBEPA, Lee Han-Young, and the CEO of the Universal group, Kim In-Ki.
They added, "We will make a recommendation for the city government to implement a pilot universal coin project to expand market demands, by issuing a digital currency portfolio to small business owners and enforcing ICO. In addition, the Universal Group, the Beerex Chain, and Korea World will cooperate to establish the first office for the universal coin project; residents of Gwangju will be given preference for employment."
CEO Kim In-Ki said, "Estonia and Malta have been the forerunners of the 4th industrial revolution by successfully attracting global blockchain corporations to invest in their cities, and they have enjoyed astronomical rises in the number of jobs created. Our government has attempted to create new jobs by myopically focusing on the manufacturing — auto or shipbuilding — industry, overlooking the rise of 4th industrial revolution."
The number of people working in blockchain or/and cryptocurrency industries is estimated at a million. Announcing Gwangju as the specialized district for cryptocurrency will attract international corporations and ensure enforcement of ICO for domestic/foreign cryptocurrency companies, which would likely resolve the bottleneck phenomenon seen in the FinTech industry. Moreover, Gwangju's development as a city of the 4th industrial revolution would result in 1 million new jobs, ameliorating the unemployment rates.
They also insist that other blockchain associations should promote job growth instead of only trying to appease the government.
KBEPA is an organization that was founded on July 17, established through the foundational meeting of the national assembly to promote the blockchain industry in Korea. The founding members are prominent figures in the blockchain and information security industry, including Yoo Joon-Sang, the director of the Korea Information Technology Research Institute; Ryu Geun-Chan, former member of the assembly; Lee Han-Yeong, the chairman of the Agricultural Produce Promotion Association; An Dong-Su, former vice-president of KBS; Yang Soo-Yeol, the CEO of Onface; and Lee Suh-Ryoung, the secretary general.
Mr. Lee of KBEPA and CEO Kim of the Universal Group commented, "Korean companies are opening exchange markets abroad since the government has been emphasizing only regulations that provide short-term relief in response to last year's Bitcoin frenzy." Moreover, they suggested that "corporations, associations, and Gwangju city government should actively work together to create new jobs, to seize this red-hot opportunity to increase national wealth, and to step into the 4th industrial revolution instead of wasting local and national resources trying to change trends."
SOURCE Korea Blockchain Enterprise Promotion Association (KBEPA)
Edited by K. Fanning
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