Lawmaker Min Byung-doo of the governing liberal Minju (Democratic) Party, picked artificial intelligence (A), Blockchain (B) and Culture & Content (C) as the three next-generation industries South Korea should foster.

In a speech in Seoul Wednesday, he said ABC is the sectors that have high growth potential. He said Korea would become a blockchain powerhouse as it is globally strong and competitive on the Internet.

He described the government’s tight control on blockchain over the past one year was ‘vaccine.’ “It is true that the government tightly controlled blockchain although it is one of the next-generation industries.

He advised the government to relax its rules on blockchain now. He criticized the government for underestimating the main features of the emerging blockchain business.

The lawmaker said he would stand at the forefront of advocates for the growth of the blockchain industry in South Korea.