SEOUL, South Korea, Dec. 21, 2018 /PRNewswire/ -- Thousands of representatives from Korea Blockchain Enterprise Promotion Association (KBEPA) and Universal Group will be holding a ceremony to announce their plans on Dec. 27 (Thurs), 1400 - 1700, local time, at the Kim Dae Jung Convention Center, multipurpose hall 1, in Gwangju. At the ceremony, a request will be made of Lee Yong-Sub, the mayor of Gwangju City, to announce Gwangju as a specialized Crypto-Valley District in order to stimulate the local job market; the request will be made in the presence of more than 300 international and Korean journalists.
"We plan to meet Mayor Lee officially to deliver the recommended plans to announce and transform Gwangju into a special governing city for cryptocurrency. We also plan to meet the councilperson Kim Dong-Chan to ask for support," said the executive vice-president of KBEPA, Lee Han-Young, and the CEO of the Universal group, Kim In-Ki.
They added, "We will make a recommendation for the city government to implement a pilot universal coin project to expand market demands, by issuing a digital currency portfolio to small business owners and enforcing ICO. In addition, the Universal Group, the Beerex Chain, and Korea World will cooperate to establish the first office for the universal coin project; residents of Gwangju will be given preference for employment."
CEO Kim In-Ki said, "Estonia and Malta have been the forerunners of the 4th industrial revolution by successfully attracting global blockchain corporations to invest in their cities, and they have enjoyed astronomical rises in the number of jobs created. Our government has attempted to create new jobs by myopically focusing on the manufacturing -- auto or shipbuilding -- industry, overlooking the rise of 4th industrial revolution."
The number of people working in blockchain or/and cryptocurrency industries is estimated at a million. Announcing Gwangju as the specialized district for cryptocurrency will attract international corporations and ensure enforcement of ICO for domestic/foreign cryptocurrency companies, which would likely resolve the bottleneck phenomenon seen in the FinTech industry. Moreover, Gwangju's development as a city of the 4th industrial revolution would result in 1 million new jobs, ameliorating the unemployment rates.
Mr. Lee of KBEPA and CEO Kim of the Universal Group commented, "Korean companies are opening exchange markets abroad since the government has been emphasizing only regulations that provide short-term relief in response to last year's Bitcoin frenzy." Moreover, they suggested that "corporations, associations, and Gwangju city government should actively work together to create new jobs, to seize this red-hot opportunity to increase national wealth, and to step into the 4th industrial revolution instead of wasting local and national resources trying to change trends."
They also insist that other blockchain associations should promote job growth instead of only trying to appease the government.
KBEPA is an organization that was founded on July 17, established through the foundational meeting of the national assembly to promote the blockchain industry in Korea. The founding members are prominent figures in the blockchain and information security industry, including Yoo Joon-Sang, the director of the Korea Information Technology Research Institute; Ryu Geun-Chan, former member of the assembly; Lee Han-Yeong, the chairman of the Agricultural Produce Promotion Association; An Dong-Su, former vice-president of KBS; Yang Soo-Yeol, the CEO of Onface; and Lee Suh-Ryoung, the secretary general.
Sohn Kuae-Soo, vice-president of the Universal Group's International Cooperation, and Jung Ju-Gab, president of Yejong Holdings Inc., have engaged in mutual assistance and cooperation in the construction and resort business, and have agreed to cooperate in investment and implementation; this was celebrated with an agreement ceremony. Moreover, Kim In-Ki, CEO of the Universal Group, and Jung Ju-Gab, president of Fine Bio (INBECS Coin), have decided to list as Universal's No. 3 coin and have had an agreement ceremony as well.