South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT.

The Ministry of Science and ICT believes the country faces a global transformation called the Fourth Industrial Revolution, according to its website, and is focusing on supporting innovation across all of society by building an environment that promotes autonomous research and promotes growth technologies.

Blockchain A Growth Industry

Innovation growth industries cited by the ministry include blockchain, artificial intelligence, big data, cloud, virtual reality, augmented reality, autonomous vehicles and drones.

The ministry has announced the development of 40 courses that cover these subject areas. The courses, the ministry believes, will help improve employment opportunities for youth.

“Although the youth employment issue is emerging as a social problem, the problem of job mismatch is serious,” said Young-Kyung Won, a software policy officer at the Ministry of Commerce, Industry and Energy. The ministry will foster talents that match a companies’ visions, he said, thereby creating new opportunities for young people who are looking for jobs and creating jobs.

Consortium Supports Youth Training

A consortium of corporations, universities, trade associations, industry/academic related organizations is committed to improving youth employment opportunities through training, the ministry noted. Organizations in the consortium include SAP, Unity Technologies, PWC, Oracle, Hancom MDS, KBS, Seoul National University Hospital and Saltlux.

The project plans to recruit trainees in August and will promote then the through various media such as the website and educational institutions.

South Korea is currently the third largest cryptocurrency market besides Japan and the U.S.

Shinhan Bank, South Korea’s second-largest bank, recently partnered with KT Corp, the country’s second-largest telecoms provider to develop a blockchain-based platform.