Hong Joon-pyo, a leading candidate in South Korea's right-wing presidential primary, has announced intentions to reform cryptocurrency laws and increase investment in advanced technologies.
Hong's Plans for Crypto Regulation Reform
At a policy forum on Wednesday, Hong Joon-pyo promised to reform regulations as vigorously as the Trump administration did in the United States, aiming to support the blockchain and virtual asset industries.
Investment Plan in New Technologies
Hong unveiled an ambitious investment plan that includes allocating at least 50 trillion won ($35.1 billion) for research and development in artificial intelligence, quantum computing, and room-temperature superconductors.
Political Situation in South Korea
Hong's candidacy comes at a pivotal moment for South Korea, following the ousting of President Yoon Suk-yeol. The upcoming June 3 election is highly open and is taking place amid discussions from both major parties.
Hong Joon-pyo's positions on cryptocurrency and new technologies could play a significant role in the electoral campaign and have substantial implications for future legislation in this area.
