South Korea’s Ministry of Science will promote blockchain technology as a part of efforts to prepare young people for what it calls the “Fourth industrial revolution.” Blockchain technology is included in courses that were recently announced by the Ministry of Science and ICT.

The Ministry of Science and ICT believes that the country is facing a global transformation called the “Fourth industrial revolution”. According to the website, there is a focus on supporting innovations across society by creating an environment that promotes autonomous research and development of technologies.

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The developing industries referred to by the Ministry include blockchain, artificial intelligence, cloud storage, virtual reality, autonomous vehicles and unmanned aerial vehicles.

The Ministry announced the development of 40 courses covering these thematic areas. According to the Ministry, the courses will help to improve the employment opportunities for young people.

The Consortium Supports Youth Education

The consortium of corporations, universities, trade associations, industry/academic organizations is committed to increasing employment opportunities for young people through training. The consortium includes such organizations as: SAP, Unity Technologies, PWC, Oracle, Hancom MDS, KBS, Seoul national university hospital and Saltlux.

The project plans to recruit interns in August and will promote through various media such as a website and educational institutions.

South Korea is currently the third largest cryptocurrency market, after Japan and the United States.

Shinhan Bank, South Korea’s second largest bank, has recently joined KT Corp, the country’s second largest telecommunications provider, to develop a blockchain-based platform.