The National IT Industry Promotion Agency (NIPA), a quasi-government agency affiliated with the Ministry of Science and ICT, will conduct programs to nurture blockchain companies beginning next year.

A total of 6 billion won has been earmarked for blockchain-related projects. Of the fund, 5 billion won will be provided directly for blockchain enterprises and startups equipped with creative ideas and technologies. The NIPA will help these companies develop prototypes and conduct proof of concept (PoC). About 10 projects will be selected and each project will receive up to 400 million won. The NIPA plans to issue public announcement in February next year and select successful applicants in March and April.

The NIPA also plans to offer consulting programs for businesses wishing to exploit blockchain technology and technology and solution providers for them. Ten companies will be selected in January. In February, advisory firms that would provide consulting services for them will be chosen. /shim@decenter.kr

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