Belarus invites South Korea to invest in the blockchain sector, and other technologies in the country as the two countries aim to boost bilateral ties. This was stated by the deputy foreign minister of Belarus, Andrei Dapkiunas during a diplomatic meeting in Seoul, on September 6, 2018.
Boosting Belarus Diplomatic Ties with Korea
During a diplomatic meeting in Korea, the deputy foreign minister of Belarus, Andrei Dapkiunas, on Tuesday, expressed the need for boosting the diplomatic tie between the two countries. The diplomatic meeting is the fifth joint committee meeting between Belarus and Korea organised every two to three years.
Andrei emphasised more on the conducive environment available for the Korean investors to invest in Belarus. Especially in the blockchain sector, artificial intelligence and other “fourth industrial revolution” technologies.
Stating the reasons why technological investments would be a success, he noted that the country has made groundbreaking state legislation in the IT sector. So also is Belarus’ role in Eastern Europe, which is already making innovative strive in the blockchain, cryptocurrency, startup development and software production.
Andrei cited the example of the high tech park in Belarus, the most significant IT hub in Belarus, and Korean tech firm SK Hynix that has a presence there already, and the opening of Belarus-Korea IT cooperation centre in Minsk last year.
Apart from the biennial diplomatic meeting between these countries, the two countries had two meetings together last year. The meetings were the second Joint Belarus-Korea Committee on Science and Technology in Seoul and the Belarus-Korea E-Government.
The minister believes that the technological potential to be shared in the furtherance of the partnership between the two countries on technology is not yet fully realised. He believes that the aerospace, artificial intelligence, biotechnologies, electric and self-driving vehicles, robotics and electronics, nanomaterials, and digital economy industries can still be explored further.
A History of Diplomatic Ties, and Similar Historical Experience
Diplomatic ties between the two countries had seen consistent growth since it started in 1992. Belarus established their first embassy in Seoul in 1997 and Korea in Minsk in 2007.
Trade between the two countries has seen considerable growth with Korean exports to Belarus reaching $28.46 million last year and Belarusian exports to Korea reaching $36.16 million last year as well.
The two countries both have a historical record of hardship and war. Same way the two countries share an interest in the blockchain technology and cryptocurrencies.
Though Korea has adopted cryptocurrency and blockchain tech more than Belarus, a strong bilateral agreement on blockchain tech will lead to further growth of the industry in these countries and most especially, globally.