South Korea announced on the 28th that it will establish a blockchain technology innovation support center in the Songdo Michu Building in the second half of this year. Incheon was finally selected as a participant in the "2024 Regional Blockchain Technology Innovation Support Center Construction Project" jointly organized by the Korean Ministry of Science, ICT and Future Planning and the Korea Internet & Security Agency (KISA). Incheon is the third region to be selected after Busan and Daegu. In February last year, Incheon established a dedicated blockchain department and formulated a four-year plan to create a blockchain center city, which was promised by Incheon Mayor Liu Zhengfu. After being selected, Incheon will receive KRW 1.8 billion in government funding.