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University of South Korea announces new blockchain campus

South Korea’s Suseong University reached an agreement May 22 with the Korean Artificial Intelligence Association, or KORAIA, to create a blockchain and AI campus in Daegu.

According to the announcement by local media outlet Money Today, the Daegu-based university plans to teach about artificial intelligence, big data and cloud-based technology in the new department. They intend to start accepting students by 2021.

The South Korean government labels Blockchain a golden opportunity

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Kim Kun-woo, director of the university’s Planning and Coordination Division, praised the announcement. He said the world is „rapidly“ changing to a society based on the chain of blocks and AI due to the global crisis of COVID-19.

The announcement also says that several blockchain companies based in Daegu have agreed to provide on-campus training and work experience programs.

The South Korean government will provide $3.2 million to blockchain companies
The university will implement user-friendly services that enable cohesion between university education and academic administration, with experts in each field.

South Korea continues to encourage the blockchain industry

The South Korean government continues to maintain a positive stance towards the development of the country’s blockchain industry.

Blockchain advances push banks towards digital currencies, says Bank of Korea
Cointelegraph reported April 17 that Vice Minister of Strategy and Finance Koo Yun-cheol said the blockchain market represents a „golden opportunity“ for South Korea, and called on private sector companies to exploit this potential.

Two South Korean ministries announced their support for the country’s blockchain industry on March 17, with plans to allocate up to $3.2 million in funds to new local businesses to encourage the use of such technology.