South Korea’s Ministry of ICT, Science and Future Planning Pledged to invest 223.7 billion won (over 6 billion baht) to build a comprehensive Metaverse ecosystem to support the growth of digital content and the growth of domestic enterprises.
The ministry has written indeclaration Officially on February 27 that The funds will be used for the four main purposes of building what is now the all-encompassing Metaverse ecosystem known as “Expanded Virtual World.”
Government agencies intend to use Metaverse as a platform to expand the growth of virtual cities, education and media industries.
Content creators are encouraged in a number of ways to attract the right talent to help build the platform. The ministry said it would hold community-focused creative events, a Metaverse developer contest, and a hackathon.
Hased CEO Simon Kim pointed out that the new Metaverse platform will focus on promoting commercial expansion by providing participants with financing. He doesn’t think there will be a problem with government funding because “the private sector is actively investing in the metaverse.”
“It’s a regulatory issue that the government should pay more attention to. In Korea, NFT games are banned and tokens are forbidden.”
Hased is a venture capital and incubator in the South Korean crypto ecosystem. It has invested in Metaverse projects such as Decentraland and The Sandbox.
The ministry’s communications and policy chief Park Yungyu said in the announcement that This Metaverse platform-building initiative is part of the broader ‘Digital New Deal’ in South Korea. The Digital New Deal is a policy designed to foster the growth of digital technology.
“It is important to create a global Metaverse ecosystem as a starting point for promoting industry-connected industries. hyper-connected”
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