Blockchain-based advertising and marketing platform Webloc has become the first blockchain company that relocated its office to Jeju Island.

Webloc CEO Hong Jun pins high hope on Jeju’s move to foster the blockchain industry in South Korea

Webloc hopes that Jeju will open its special business zone for blockchain projects.

The island government has been active in preparing to open the Crypto Valley where blockchain projects can do business hassle-free.

Jeju Governor Won Hee-ryong pledged to allow blockchain projects to raise capital through initial coin offerings (ICOs).

The South Korean government bans ICOs, becoming one of the two OECD countries prohibiting the ICOs.