South Korean blockchain experts have announced plans to launch the Blockchain Law Society to study the legal issues surrounding this emerging technology, Yonhap News reported.

The study group will invite experts from various fields, including legal, academics, and industry experts. It will focus on various legal aspects related to blockchain technology as well as blockchain-related legislation.

CoinDesk reported that the initiative has been founded by Jung-yeop Lee, the presiding judge of the district court in the city of Daejeon. Lee intends the society to drive dialogues within the country's justice and legislative sectors, as well as elsewhere in society.

"Blockchain Law Society was founded not only to study blockchain technology from a legal aspect but to promote interdisciplinary collaborations between diverse areas, such as economics, computer engineering (and) field business," the organization said.

The official launch ceremony will be held on Friday, August 24. According to Korea IT Times, the launch event will focus on:

• “How to design crypto currency and crypto exchanges
• Research on reward system of Blockchain Law Society
• Blockchain and the civil society
• Accounting and taxing methods related to blockchain
• Using blockchain in copyright contents
• Blockchain-a tool for programmable economy
• Civil law issues regarding smart contracts
• Research on legislating fundamental law on blockchain
• Blockchain innovation, a tool for internalizing externality
• Blockchain and the criminal law
• Research on revitalizing blockchain industry by regulatory sandbox
• The present and the future of online platform of Blockchain Law Society”

The South Korean recently unveiled its ‘growth through innovation’ investment plan for 2019 in which it has allocated over 1 trillion won towards big data, blockchain, and sharing economy. In addition, the National Assembly’s extraordinary session is going to discuss measures to encourage blockchain and cryptocurrency ecosystem in the country.