The South Korean Suseong University has announced that it is building a blockchain and artificial intelligence (AI) campus in the city of Daegu.
Suseong University partnered on the initiative with the Korea Artificial Intelligence Association. According to the local news report in Money Today, the university revealed that the campus would also focus on other emerging technologies such as big data and cloud computing. The campus will take a year to construct, with admission set to begin in 2021. Many technology companies based in Daegu have already signed up to become part of the project. These companies will provide training to the students, as well as practical experience. They include Wooshin Co. Ltd, an AI company based in Daegu.
“The pandemic has created a need for a more robust system.”
Kim Kun-woo, the university’s Planning and Coordination Division director belives that the COIVD-19 pandemic has created a need for a more robust system, and combining blockchain with AI is the best way to respond to this need. The director further revealed that the university intends to give students at the campus firsthand experience in the blockchain and AI industries by pairing them with experts in these fields. The Asian county has been at the forefront when it comes to embracing innovation and technologies like blockchain. South Korea launched a fintech sandbox that has promoted the growth of several blockchain startups.
South Korean lawmakers seek to tax crypto incomes from next year.
As reported earlier, South Korean lawmakers have proposed a bill seeking to make crypto incomes subject to taxation in the country. South Korea’s Ministry of Economy and Finance proposed the revisions to the existing taxation laws to include the crypto industry. The amendments, which are also supported by the Ministry of Information and Technology, will see South Korea’s tax income generated from selling cryptocurrencies. However, crypto to crypto transactions would not be subjected to taxation, according to the proposed laws. Earlier this year, the South Korean parliament passed a historic bill making crypto trading legal in the country. However, the bill will take one and a half years to come into effect from the date of signing.
