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Busan is going to foster its blockchain industry ecosystem by creating a 10 billion won free regulatory zone fund.
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The government and FMC investments prepared this fund for investing in small and medium companies. Around the southeast region regulated free zone industries like Busan, Ulsan, and Gyeongnam.
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The investment is going to target the companies that have received the Regulatory Sandbox Act. Either for the businesses designated by the regions which come under the ‘Special Regulatory Act.’
Busan is going to foster its blockchain industry ecosystem by creating a 10 billion won free regulatory zone fund. A free zone promotion group from the Busan Blockchain regulatory announced that they are going to form 10 billion won ‘new free zone’ funds to foster the Busan blockchain industry and named that as a Koran fund investment project.
Busan Government to Invest Funds for Blockchain development
The government and FMC investments prepared this fund for investing in small and medium companies. Around the southeast region regulated free zone industries like Busan, Ulsan, and Gyeongnam.
The investment is mainly going to target the companies that have received the Regulatory Sandbox Act. With this intention, the businesses designated by the regions which come under the ‘Special Regulatory Act.’ The regions under this provision are Busan – blockchain, Ulsan -Hydro Green Mobility, Gyeongnam – Unmanned Ship.
Also, CEO FMC investments, Tae-soo lee mentioned: “we will actively going to promote the development of new industries. It also revitalized the investment ecosystem related to the regulatory free zones. In each region by attracting the investments towards the parent funds.”
Likewise, last year in July Busan metropolitan city also designated as a blockchain regulated free zone. The step turned out as an initiative in creating blockchain exclusive zone performance.
Regulatory free Zones announced and further details to reveal in the coming days. This exclusive regulatory free zone is going to provide a hype to the Busan blockchain industry and some regions around Busan. The fund estimated to be approx 10 billion, which is specifically going to fortified the Busan in terms of the blockchain industry.
