South Korea’s blockchain prowess is gaining international reach as reports show that the Eastern European nation of Belarus is opening its doors for South Korean investors, as its national postal service Korea Post seeks cryptocurrency know-how from Goldman Sachs executives.
Belarus
As reported by local news outlet Korea JoongAng Daily, the deputy foreign minister and ambassador of Belarus Andrei Dapkiunas told reporters that the European nation is open to investment into Fourth Industrial Revolution (4IR) technologies; this includes blockchain, Artificial Intelligence (AI), Robotics and the Internet of Things (IoT).
Between meetings with the Joint Committee of Belarus and Korea during a visit to Seoul, the ambassador noted that Belarus had made “groundbreaking state legislation regarding the IT sector”, adding, “We are the partner in Eastern Europe making innovative strides on blockchain, cryptocurrency, start-up development and software production.”
Business relations between the two countries are healthy, with South Korean exports to Belarus including IT products, vehicles, electronics, while Belarus supplies goods such as semiconductors, lasers and optical instruments.
Highlighting the potential future success of a 4IR relationship with South Korea, Dapkiunas said, “…we feel that this potential is not fully realized. We believe that there is a significant potential for mutually beneficial cooperation in such fields as aerospace, artificial intelligence, biotechnologies, electric and self-driving vehicles, robotics and electronics, nanomaterials and digital economy.”
It wouldn’t come as a surprise should South Korean investors see the benefits of such a cooperation. This is due to the governments of South Korea and the United States having a cooperative partnership in place for the coming 4IR era.
Goldman Sachs and Korea Post
Earlier this week, Bloomberg reported that the South Korean postal service is actively seeking an understanding of cryptocurrencies.
The president of Korea Post, Kang Seong-ju, said that he had spoken about cryptocurrencies with David Solomon, a Goldman Sachs chief effective, at a New York meeting.
Staff members of Korea Post are said to be meeting with the Goldman Sachs crypto-research team in Hong Kong to educate themselves on blockchain, digital assets and other technologies such as AI.
Kang said, “I asked Goldman to pass on their know-how in the cryptocurrency area… Since cryptocurrencies are considered to have potential, and are something many people are watching, we’ll need to learn the strengths and weaknesses.”
According to the Bloomberg report, Korea Post presently has no intention of investing in cryptocurrencies. However, the meeting in Hong Kong should prove fruitful given its national status and the present hype of blockchain in South Korea.
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