With South Korea aiming to becoming a technologically advanced country , adopting technologies such as blockchain , it comes as little surprise that the country 's government is aiming to implement tax perks for those who show innovation and interest in this area . # ##es are to be reduced for companies dealing with a total of 157 " new - growth technologies " in these areas , grouped into a category called nascent technologies . In related news, South Korea's Ministry of Science and ICT recently announced it plans to invest $9 million by the end of 2019 to support blockchain pilot programs in six public service areas. The government aims to clarify the specifics of the tax perks on 26th July , and wants to have the system implemented by the Q1 2019 .
With South Korea aiming to becoming a technologically advanced country , adopting technologies such as blockchain , it comes as little surprise that the country 's government is aiming to implement tax perks for those who show innovation and interest in this area . # ##es are to be reduced for companies dealing with a total of 157 " new - growth technologies " in these areas , grouped into a category called nascent technologies . The government aims to clarify the specifics of the tax perks on 26th July , and wants to have the system implemented by the Q1 2019 .