South Korea rides high on one the best GDP figures of $30,000 per the statement of Bloomberg. However, one city, in particular, is witnessing a silent downfall due to its aging population, where 21% of the people are at least 65 years old. Busan is now looking to turn the tables by attracting a young population through the establishment of a crypto sphere.

Some of the actions that the city could see being implemented include embracing digital tokens and establishing public-run exchanges. The South Korean region has already partnered with Binance to launch a crypto trading venue in the current year. Both Binance and the Busan planners have yet to provide a firm, or even tentative, schedule.

Busan’s metropolitan government’s head of the finance and blockchain division, Park Kwang-hee, has claimed that the younger generation prefers to work in modern areas, including cryptocurrencies, and that, as a result, the city is correct to put a focus on having digital assets and financial products.

(By David Cox)

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