Pohang City Launches Digital Economy Ecosystem... Blockchain Association, POSTECH, Handong University MOU

Digital Economy Gamechanger 'Blockchain' for Advancing Regional Economy

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Pohang City has fired the starting signal for becoming a leading city in 'blockchain,' a core technology of the 4th Industrial Revolution utilized in electronic payments and virtual currencies.

On the 19th, Pohang City signed a business agreement for the 'Creation of a Blockchain Innovation Ecosystem' with the Korea Blockchain Association, POSTECH, and Handong Global University at the Korea Blockchain Association's main conference room in Seoul.

Attendees included Lee Kang-deok, Mayor of Pohang; Oh Gap-su, President of the Korea Blockchain Association; Han Sung-ho, Director of the POSTECH Inter-Blockchain Center; and Lee Jung-min, Vice Dean of Industry-Academic Cooperation at Handong Global University, along with blockchain-related R&D institutions and companies.

Through this agreement, they will strengthen mutual cooperation to establish Pohang's blockchain industry ecosystem by providing consulting and support for business creation, promoting joint research and advanced talent development projects, continuously enhancing education, and building a virtuous cycle system for job creation.

Mayor Lee Kang-deok of Pohang stated, "Blockchain is a core infrastructure that leads hyperconnectivity and the digital economy based on data trust," adding, "We will do our best to create a blockchain innovation ecosystem with global competitiveness by discovering successful blockchain cases that citizens can experience and securing next-generation blockchain technologies."

Meanwhile, the Korea Blockchain Association, founded in 2018, currently has over 60 members, including companies such as Daily Intelligence and Hashed founded by POSTECH alumni, local governments like Daejeon Metropolitan City, and R&D institutions such as Seoul Foreign Language Graduate School.

Blockchain is a distributed data storage technology that transparently records management data and replicates it across multiple computers, preventing data forgery and alteration. It is utilized in various fields such as electronic payments, digital authentication, cargo tracking systems, tracing the entire process from origin to distribution, electronic voting, car sharing, and managing medical records shared among hospitals.

This content was produced with the assistance of AI translation services.