The South Jeolla Province from South Korea has recently made a promising announcement for its citizens. The announcement comes as a surprise especially for the youth in the South Jeolla Province. The Government of the South Jeolla Province has revealed that it will be spending around $14 million on one of its new projects.
The $14 million amount will be invested in creating job opportunities and the sector that will be targeted would be the 4.0 industry. The 4.0 industry of automation will also include the crypto-blockchain industry, which is very promising for the youngsters in the region.
One of the local report groups ‘JeonnamMaeil’ has also revealed the sources from where the funding was generated from. The funding for the particular project was secured from the resources made available by the central government. The new project is one of many projects that are to be introduced by the Ministry of Public Administration and Security.
These projects have been initiated by MOPAS in order to bring up the country’s economy after the pandemic. The MOPAS at many occasions has referred to its run as the revival project for the country’s economy.
The Government of South Korea has also expressed its interest and orientation towards blockchain technology. It has stated that it wants to use blockchain technology as well as the industry 4.0 sectors to improvise and develop new projects. The government has stated that with the help of the 4.0 industry and blockchain technology, they are aiming to grow their economy back to its original pre-pandemic status.
Right in the beginning of the week, Seoul announced that a GDP adjustment was in place for the upcoming year 2021. It announced that the forecasted GDP has been brought down from 3.6% to 3.2% for the next year. The Seoul Government announced that they have forecasted this percentage based on the upcoming events that will hit the entire world.
It has been confirmed that a new wave of coronavirus infections will hit the confidence of the South Korean public.
However, the new project launched by the South Jeolla Province will turn out to be groundbreaking for the country. It will be providing job opportunities to the youngsters in the 4.0 sector, blockchain industry, and many more advancing industries. The main sectors that the South Jeolla aims to support with the funding are Big Data, Blockchain technology, AI, and Cloud technology.
As per the media sources from South Korea, this project will initially be helping the province generate around 2,100 new posts in the coming year. As per the majority of the economic analysts, this is one of the best steps that has been taken by the South Korean Government. With these kinds of projects, South Korea will be able to regain its economic position in the world in a very short amount of time.