<p>The local government of Busan, the second-largest city in South Korea, announced in a <a href="https://www.busan.go.kr/nbtnewsBU/1618220?curPage&#61;&amp;srchBeginDt&#61;2024-03-04&amp;srchEndDt&#61;2024-03-11&amp;srchKey&#61;&amp;srchText&#61;" rel="noopener noreferrer nofollow">press release</a> that it held the 3rd Busan Blockchain Regulation-free Zone Steering Committee (Committee) meeting at the Busan Eurasia Platform, a community center located near Busan Station.</p><p>The meeting took place last Thursday at 15:00 (KST), attended by 12 Committee members, including Busan’s Vice Mayor for Economic Affairs Kim Kwang-hee, Busan Technopark Chairman Kim Hyung-gyun, Busan International Finance Agency Chairman Lee Myung-ho and Busan Information Industry Promotion Agency Chairman Kim Tae-yeol.</p><p>The meeting was intended to discuss strategies to revitalize the blockchain regulation-free zone (blockchain zone) and to attract new blockchain businesses to the region. Busan has been recently struggling with developing and attracting blockchain technology companies to the region, which has cast <a href="https://coinnesslive.page.link/6F6XA18gX5jR5nC79" rel="noopener noreferrer nofollow">doubt</a> on the city’s ability to retain its status as the regulatory sandbox zone.</p><h3 id="new-24-members-new-commitment-to-invigorating-blockchain-zone">New 24 members, new commitment to invigorating blockchain zone</h3><p>Established in October last year, the 3rd Committee comprises 24 new members who have expertise in blockchain technology. The Committee aims to raise awareness of the blockchain zone’s potential and foster the blockchain industry within the region.</p><p>Kim Sang-min, Vice CEO of healthcare company Erom, was appointed Committee Chairman at the meeting. Known as an expert in the blockchain ecosystem, Kim currently serves as a blockchain policy advisor for Busan and has experience in taking the lead in <a href="https://www.bonmedia.kr/news/articleView.html?idxno&#61;1811" rel="noopener noreferrer nofollow">establishing</a> the Busan Digital Asset Exchange (BDX) last year.</p><h3 id="more-meetings-in-store-to-become-a-blockchain-hub">More meetings in store to become a blockchain hub</h3><p>The meeting focused on creating subcommittees in an effort to facilitate the Committee’s seamless operation. Moreover, members reached a consensus on holding meetings at any time when warranted, in both online and in-person formats.</p><p>During the meeting, Busan Vice Mayor Kim said the newly launched Committee will contribute to identifying innovative businesses with great potential that require both cutting-edge blockchain technologies and a regulatory sandbox environment.</p>

The 3rd Busan Blockchain Regulation-free Zone Steering Committee holds meeting

Table of Contents

CoinNess Global

Other articles published on Mar 11, 2024

Unibot Parts Ways with Solana Amid Partnership Troubles

Revolutionizing Memory Care: Sensay Unveils AI-Powered Digital Replicas for Dementia Support and ...

NFTfi Secures $6 Million in Series A1 Amidst Varied Crypto Market Sentiment

DIA (DIA) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Bitcoin miner Bitfarms purchases additional 51,908 ASICs amid bull market

Gary Gensler remains silent on Ethereum ETFs: What now?

Join our free newsletter for daily crypto updates!