South Korea's central bank is stepping up its efforts in digitizing the economy, launching a new department dedicated to emerging technologies. The new department will focus on blockchain, artificial intelligence and other cutting-edge technologies. The Bank of Korea revealed recently that it will be launching the'Digital Innovations' department. As per a report by local outlet In The News, the department will not only implement new digital technologies, but also expand the existing digital infrastructure. The department will have a number of teams that will focus on various sectors, including data service and innovation, the report states.