The Korea Radio Promotion Association (RAPA) and Jeju University have signed a Memorandum of Understanding (MoU) to allow blockchain activity and education in the Jeju area.

RAPA is the company in charge of the communication between government and radio broadcasting businesses, while Jeju University is located in the Jeju Science Park – one of the major research centres in South Korea.

The two have agreed to work together to develop and maintain blockchain technology within industry-academia relationships.

The agreement aims to establish a blockchain ecosystem in the Jeju Special Self-governing Province to exchange ideas among academia and industry specialists, as well as to increase the competitiveness of domestic blockchain-based companies.

Previously this week, the government of South Korea’s Gyeongbuk province had launched a ‘Blockchain Special Committee’ with the goal of creating a blockchain hub and attracting investment for blockchain-related businesses.

One of South Korea’s largest hospitals also partnered with a local tech company in November in order to develop a medical services platform based on blockchain tech.

Earlier this year, the Korean Customs Service teamed up with Samsung SDS to establish an improved method of tracking.

Also this month, the South Korean government agreed to triple the budget for blockchain projects in 2019, and to invest $35 million in the industry related to distributed ledger technology (DLT).