South Korea to invest $187M in national Metaverse project
The government will provide $186.7 million to stimulate the growth of a Metaverse platform that it hopes businesses and industry will thrive in. South Korea’s Ministry of ICT, Science, and Future Planning pledged 223.7 billion KRW ($186.7 million) to create a broad Metaverse ecosystem to support the growth of digital content and corporate growth within the country.The Ministry wrote in an official statement on Feb. 27 that funds will be spent on completing four main objectives in creating what appears to be an all-encompassing Metaverse ecosystem titled the Expanded Virtual World. The....
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The government of South Korea has announced it will start investing in metaverse projects directly. More than $177 million dollars will be invested to kickstart national jobs and companies in this field, according to statements made by Lim Hyesook, minister of science and information and communication technologies. South Korea is one of the first countries to put funds into this field.
South Korea Gets Into the Metaverse
While more VC firms and companies are actively investing in the future of the metaverse, some nations are also preparing to invest in this new area to secure....
South Korea’s rising interest in nascent tech could prompt other nations to take up the idea of metaverse more seriously. South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects.The decision to invest in the nascent metaverse tech makes South Korea one of the first national governments to do so. The investment came under the ‘Digital New Deal’ program set up to invest in emerging technologies.The program is headed by the country’s science....
The South Korean science and ICT ministry has said it will recruit companies that will participate in its 2022 Metaverse Content Creation Project. A director in the ministry said the project is being promoted as part of the country’s industry-leading metaverse strategy.
Building Trust in the Metaverse Content Creation Ecosystem
South Korea’s Ministry of Science and ICT in conjunction with the National Information and Communication Industry Promotion Agency (NIPA) has said it will recruit companies that will be participating in the 2022 Metaverse Content Creation....
Right through the period of the global pandemic of COVID-19, the Metaverse has experienced more traction. However, the primary reason had been the restriction on physical meetings and gatherings. Subsequently, more people now flock to the Metaverse due to the great opportunities for virtual interactions. The Metaverse is a virtual space that allows people to […]
South Korea will allocate roughly $177 million into the metaverse to fund companies and jobs in this space. The metaverse, or living in a virtual world, isn’t a new concept, but it’s only now that the hype around it is gaining rapid attention from many industries. With AI and AR at work, investing in the […]