SEOUL, South Korea, Jan. 12, 2019 /PRNewswire-PRWeb/ -- On 6 January 2019, RACINGLAND and Korea Horse Industry Council have formally signed a strategic memorandum of understanding (MOU). The two parties will collaborate on the development of the Korean equine market in various business segments including but not limit to horse racing equipment, horse breeding, horse peripheral products and etc.
Korea Horse Industry Council, a subsidiary of the Ministry of Agriculture, Forestry and Fisheries of the Republic of Korea, presents the right policy directions and alternatives for nurturing and supporting the horse industry. It was established on November 28, 2011 to promote balanced development of the economy and enhance the quality of life of the people by establishing the development base of the horse industry and strengthening its competitiveness.
"Korea Horse Industry Council (KHIC) is committed to promoting the development of Korean equine market and we are looking for more cooperation globally. The partnership with RacingLand is an important milestone for KHIC. With the development of blockchain at its peak, we believe that to embrace the new technology actively is the right thing we should go for. We are looking forward to bringing more new blood to this traditional industry," said Ms. Jang Mi Kyung, founder and president of KHIC.
"Korea is a big market with over 800,000 Koreans who experienced horseback riding, including 18,000 who took a therapeutic ride. These are exciting numbers," said Brian Tse, founder of RacingLand. "We are very honored to have KHIC to be our strategy partner. With KHIC's local resources and experience, and RacingLand's advanced technology support and business model, we are ready to make more waves in the Korean equine market."
Further development of the thoroughbred racing industry in Korea generates increased demand for quality genetics. In addition, the emerging recreational horseback riding industry in Korea generates new niche opportunities for equine market participants. Among the breeding farms, 479 were also operating recreational horseback riding businesses, serving 47,000 regular riders in the country.
"Here in RacingLand, this multi-functional horse racing platform built with the blockchain technology provides services such as Horse Racing Media, Racing Ownership, Horse Exchange, Racing Game. We are creating the whole horse racing eco-system that has never been done, in which, we hope our users can be more engaged in this industry," Brian added.
About KHIC:
Korea Horse Industry Council presents the right policy directions and alternatives for nurturing and supporting the horse industry. It is a subsidiary of the Ministry of Agriculture, Forestry and Fisheries of the Republic of Korea, which was established on November 28, 2011 to promote balanced development of the economy and enhance the quality of life of the people by establishing the development base of the horse industry and strengthening its competitiveness.
About RacingLand
RacingLand is a horse industry platform based on the blockchain and cryptocurrency EOS.io. The industry has grown into a whopping US 100-billion-dollar industry. Here, at RacingLand, we create the world's first most transparent and open platform which provides services such as Horse Media, Ownership, Exchange and Games.
SOURCE RACINGLAND
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