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Finance minister stresses need for cooperation with China over blockchain technology

All Headlines 15:13 February 02, 2018

BEIJING, Feb. 2 (Yonhap) -- Finance Minister Kim Dong-yeon said Friday that South Korea needs to cooperate with China over blockchain technology, a burgeoning digital cryptography that enables data sharing among individual computers.

Kim made the remarks as he visited Zhongguancun, a technology hub in Beijing, ahead of talks with his Chinese counterpart, He Lifeng, chairman of China's National Development and Reform Commission, later in the day.

Finance Minister Kim Dong-yeon (L) visits Zhongguancun, a technology hub in Beijing, on Feb. 2, 2018, in this photo provided by the Ministry of Strategy and Finance.

While checking out technology innovations at Zhongguancun, Kim also introduced South Korea's efforts to emulate Silicon Valley style and innovation by expanding its own technology hub in Pangyo, near Seoul.

Seoul's top economic policymaker recently unveiled a plan to expand a second startup complex in Pangyo in a bid to further boost promising local startups and attract foreign companies.

The "2nd Techno Valley" in Pangyo is designed to nurture some 1,400 startups, offering workspace and consulting services for funding at cheap prices, according to the finance ministry.

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