South Korea's Ministry of Science and ICT said on Feb. 10 it held a meeting at the Korea Internet and Security Agency (KISA) headquarters in Seoul to discuss ways to cooperate on blockchain-based digital transformation. The talks came as a government delegation from Madagascar's Ministry of Digital Development, Transformation, Posts and Telecommunications (MNDPT) and World Bank officials visited South Korea.

The meeting was arranged after the Madagascar government, which is pushing blockchain as core infrastructure for national digital transformation, sought to directly review South Korea's blockchain-based digital innovation cases with the World Bank and explore scope for cooperation.

The two sides previously discussed possible blockchain cooperation in agriculture in July 2024, on the sidelines of the Blockchain Demand and Supplier Consultative Body (ABLE). They have since expanded the foundation for cooperation through follow-up meetings with South Korean blockchain companies.

At the meeting, the ministry defined blockchain as a "trust infrastructure for the digital economy". It introduced a Korean-style blockchain model that can be applied across the public and industrial sectors, highlighting results from practical demonstration projects including a distributed identity authentication (DID)-based mobile ID and a digital-currency-based digital voucher management platform.

They also discussed ways to expand overseas expansion and commercialisation opportunities by linking South Korean companies' blockchain and AI technology with major projects in Madagascar being pursued by the World Bank.

The ministry said it will identify and match promising South Korean companies that meet local demand, centred on ABLE. It said it will strengthen policy support so K-blockchain technology can take root in overseas public projects and industrial sites by linking with the World Bank's global network.

Lee Do-gyu (이도규), head of the Information and Communication Policy Office at the ministry, said the meeting showed trust between the two countries was leading to concrete results in digital transformation cooperation. He said the government would strengthen intergovernmental cooperation so South Korea's blockchain policy and technology can be used as practical solutions in global digital transformation.