Jeonbuk National University (JBNU)-affiliated Blockchain Applications Research Institute (Director Kim Sun-tae) and the University of Zurich Blockchain Center (Director Claudio J. Tessone) have agreed to serve as a head forum for establishing a digital asset special zone in Jeonbuk Special Self-Governing Province.

The two institutes announced that on the 23rd, ahead of the Jeonbuk Digital Asset Workshop held with the Korean Blockchain Society Spring Conference, they signed a formal memorandum of understanding to cooperate in the fields of digital assets and blockchain.

Under the agreement, the two institutes will mutually exchange faculty, staff and researchers and collaborate on research and development in the blockchain field. In particular, student exchanges will be pursued in various forms, including joint and double-degree programs, as well as regular, exchange and visiting students.

They will also exchange academic materials and publications, undertake joint research projects, organize academic conferences and actively cooperate on academic and human resources for research and development.

In particular, the two institutes agreed to share the various experiences of building an international digital asset hub in the Swiss city of Zug and to pursue continued cooperation to establish the Jeonbuk Special Self-Governing Province's digital asset special zone. They also pledged to explore and cooperate on plans to develop the Jeonbuk region into an international financial city based on digital assets, a new growth engine for the region.

Director Kim Sun-tae said, "We are very pleased that the University of Zurich's Blockchain Center and Jeonbuk National University (JBNU) will cooperate for the development of the blockchain field," adding, "We expect this partnership to serve as a major stepping stone for the development of the blockchain sector in Jeonbuk Special Self-Governing Province and for becoming an international digital asset finance hub."