Characterized by the advancement of communication and connectivity, the Fourth Industrial Revolution, or Industry 4.0, is meant to exponentially disrupt the way we live. Major technological breakthroughs are underway in almost all industries worldwide including in artificial intelligence (AI), the Internet of Things (IoT), distributed ledger tech, robotics, quantum and more.
South Korea, known as one of the leading tech countries in the world, is clearly no stranger to this revolution. Having overturned its entire economy in one generation, the country knows a thing or two about disruption, which is why it is adamant in investing in technologies of the future.
Korea’s commitment to innovative growth was recently displayed by Seoul’s mayor, Park Won-soon, who introduced a five-year plan to promote the blockchain industry. This follows an August 2018 announcement by the government to invest 5 trillion won (about USD $4 billion) in various sectors of the domestic economy, including blockchain, AI and big data.
There is no doubt the country is striking while the iron is hot, and it will be for quite a while as the Fourth Industrial Revolution continues its expansion. What will be Industry 4.0’s next big breakthrough
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