South Korea’s Presidential candidate Hong Junpyo, representing the National Power Party, has promised to promote the nation’s crypto and tech industries in Trump-style. Speaking from his campaign office in Yeouido on the 16th, Hong laid out an ambitious vision for the country’s economic growth.
South Korea Prez Candidate Applauds Trump’s Crypto Stance
He pledged to invest at least 500 trillion Korean won (approximately 240 billion RMB) over the next five years in research and development, focusing on artificial intelligence, quantum computing, and blockchain. This investment, he said, would support “super-gap technology-led growth,” positioning South Korea as a global tech leader.
Drawing a direct comparison to US President Donald Trump’s policies, Hong promised to ease regulations on blockchain and cryptocurrencies. “To nurture blockchain and virtual assets as a standalone industry, I will remove regulatory barriers as the Trump administration did,” he stated. He also expressed plans to incorporate blockchain technology into government operations and public services.
According to local media, a key part of his proposal included the introduction of a “New Industry No-Barrier” system, which would allow startups and emerging tech businesses to enter the market without needing prior government approval.
Hong also announced plans to remove the 52-hour workweek cap for workers in new tech industries, offering greater labor flexibility to support intensive research and development efforts.
His economic platform is reportedly built on five basic concepts: public-private economic revitalization, technology-led “super-gap” growth, productivity-based wealth distribution, job creation and welfare prioritizing everyday citizens and responsible national debt management aligned with economic growth.
South Korea has established itself as a prominent hub for cryptocurrency adoption. In fact, one of the instances where crypto market, especially $XRP market performance saw surges was, after the former President Yoon Suk Yeol was suspended following a political turmoil in the country. Thus, amid a crypto-sensitive environment like this, President contender Hong Junpyo’s open crypto stance does seem to hold a credible weight.
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