South Korean authorities are proposed to open an economic center similar to Swiss Crypto Valley

An interesting initiative has been proposed in South Korea, according to the regional Web portals. Seeing the success of the Crypto Valley in Switzerland, Korean blockchain enthusiasts are interested in establishing a similar economic zone in their own country.

The Crypto Beach can be opened at Haeundae Beach, Busan. This is a large shoreline (1.5 kilometers) which is a popular tourist spot. Oh Jung-geun, representative of the local association dedicated to ICT and finance, was the one to voice the idea. He promised to talk with the authorities of Busan at the end of August this year.

South Korea has banned ICOs, this measure has been criticized repeatedly by various economic experts, including Oh Jung-geun. There were rumors in the media about the future partial lift of the ban.

The initiative may receive governmental support due to the fact that Busan is viewed as a perspective financial region by the authorities, although there are no indications of their endorsement at the press time.

The new space can be opened not as a special economic zone, but rather, as a place for cryptocurrency-related events and forums.

Image: Booking.com