South Korean presidential candidate Hong Joon-pyo promised to emulate the Trump administration by vigorously promoting the Blockchain and virtual asset industry.

BlockBeats News, on April 16, according to local media reports, South Korea’s National Power Party presidential candidate Hong Joon-pyo promised at a press conference at the Yeouido campaign office on the 16th that at least 50 trillion won (about 240 billion yuan) will be invested in research and development in the fields of artificial intelligence, quantum technology and blockchain in the next five years, aiming to achieve “super-gap technology-led growth”. He made it clear that he would follow the example of the Trump administration in the United States to drastically deregulate and promote blockchain and virtual assets as independent industries, and introduce blockchain technology into the public sector and administrative services. Hong Joon-pyo emphasized that the virtual asset industry will become a new growth point for the Korean economy. Hong also proposed a “no threshold for new industries” system, which allows new technologies and new businesses to enter the market without prior government approval, which is expected to provide a more relaxed innovation environment for blockchain start-ups. In addition, he plans to abolish the 52-hour workweek restriction in cutting-edge industries and provide more flexible workforce support for technology research and development fields such as blockchain.