According to Korean media Maeil Kyungjae, the Korea Software Policy & Research Institute revealed that seven of the top 10 companies in South Korea have begun to integrate blockchain technology into their services. These “big companies” accounted for 86% of the blockchain-related expenditures in 2018. According to the agency's estimates, last year's blockchain spending in South Korea was slightly less than $110 million. South Korea's business sector is dominated by large family groups that are typically run by families, which are currently introducing blockchain technology into manufacturing, distribution, electronics, logistics, banking, finance and telecommunications businesses. The media said that this factor is leading to the "accelerated development" of the blockchain industry.