Home Blockchain Former South Korean Vice Minister of Economy Becomes CEO of Blockchain Institute

Former South Korean Vice Minister of Economy Becomes CEO of Blockchain Institute

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Former South Korean Vice Minister of Economy Becomes CEO of Blockchain Institute

Yong-beom Kim – First Deputy Minister of South Korea’s Ministry of Economy and Finance from 2019 to 2021 – will join blockchain and digital technology research institute Hashed Open Research as managing director.

The entity aims to act as a bridge between local cryptocurrency experts and the government.

  • According to a document shared with CryptoPotatoYong-beom Kim’s main task as a senior executive at Hashed Open Research will be to establish constructive dialogue between Korean cryptocurrency participants and domestic lawmakers.
  • Kim is committed to helping the company progress using her wealth of expertise. The organization of in-depth seminars and research activities are also on its agenda.
  • The former government official believed that applying comprehensive rules to the local digital asset industry could be very beneficial for South Korea. The advancement of the cryptocurrency industry combined with the country’s high-tech vision could level the nation with the United States, Kim argued.
  • The former deputy minister is considered an expert in the financial field. During his career, he served as Vice Chairman of the Financial Services Commission (FSC) and Chairman of the Securities and Futures Commission (SFC) within the FSC.
  • During the crypto winter of 2018, Kim urged for special regulations on the space to prevent bad actors from employing the asset class in their criminal activities.
  • In 2019, he was appointed First Deputy Minister of Korea’s Ministry of Economy and Finance. As such, he proposed that local cryptocurrency exchanges be subject to maintenance and taxation.

Featured image courtesy of KoreaTimes

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