Estonia Opens a Digital Embassy in South Korea

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Estonia’s President Kersti Kaljulaid has officially opened yesterday the first e-Residency Collection Centre in Seoul, South Korea’s capital, further agreeing to strengthen technology links with the Asian tiger. Kaljulaid said:

“Our countries have developed a strong friendship based on mutual values, our enthusiasm for entrepreneurship and our love of technology.

We are already world leaders together in innovation and partners in the D5 group of advanced digital nations, but the world is changing fast and we can still benefit so much more from each other. That’s why we are now deepening our friendship and becoming business partners too.

While supporting entrepreneurs, the state must also embrace innovation and adopt an entrepreneurial mindset.

The Estonian Police and Border Guard has shown a great example of this by opening their first e-Residency Collection Centre, which will help scale up our country globally by better serving entrepreneurs in Korea and around the world in the digital era.”

Estonia’s e-Residency program allows anyone in the world to set up a business in the EU without stepping foot in the country.

Some 30,000 people have already joined, with membership spiking in South Korea to 300 in anticipation of the opening of the centre.

The e-Residency program gives you an ID card which some have turned into an eth wallet, with Kaspar Korjus, Estonia’s Managing Director of e-Residency, announcing late last year they are to go ahead with launching estcoin, an ethereum based token.

Details for estcoin have not yet been finalized, but it will be issued through an ICO with the raised funds acting as a digital state budget of sorts for the e-Residents.

“Our nations are now undergoing a digital revolution, which will radically reshape them once again –  this time into borderless online communities with services that can be accessed anywhere there is an internet connection,” Korjus says.

With that vision they plan to open a number of digital embassies, which have the same diplomatic protection as ordinary embassies, with the centre opened yesterday potentially the first of the kind.

 

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