South Korea aims to become the world’s fifth largest metaverse market by 2026

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The government recently said that South Korea will train 220 companies and 40,000 professionals specializing in metaverse technology to achieve its goal of becoming the fifth largest country in the global metaverse market by 2026. To create a safe and reliable environment for the Metaverse, the country drafts a set of ethical principles for the virtual world.

The Government of South Korea defines the Metaverse as a platform that provides a virtual reality world where people and things can interact with each other to create economic, social and cultural value.

The country’s Ministry of Science, Information and Communication Technology (ICT) has released a government-wide strategic blueprint for new industries to respond to the economic and social changes brought about by the metaverse and prepare for the future.

The government says South Korea will train 220 companies and 40,000 professionals specializing in metaverse technology to reach its goal of becoming the fifth largest country in the global metaverse market by 2026. ..To create a safe and reliable environment for the Metaverse, the country drafts a set of ethical principles for the virtual world.

Authorities have set four key goals: activating the Metaverse platform ecosystem, developing professionals, developing enterprises, and setting up a safe environment for all Metaverse users.

According to the announcement, the private sector will lead the development of different types of metaverses, and the government will focus on supporting individual developers and businesses through a wide range of support measures.

Under the roadmap, the country plans to apply metaverse technology in the fields of arts, culture, education, K-POP and tourism while building an online Korean language institute on a metaverse platform for foreigners. The Korean media reported.

The government has also set up a Metaverse Academy to help establish two convergence graduate schools this year by fostering young talent and providing schools with up to 5.5 billion won ($ 4.6 million) in financial support over the next five years. increase.

For businesses and students, the country will hold a Metaverse Development Contest that requires the use of domestic software programs and a hackathon for Metaverse Creators.

To expand the Metaverse infrastructure nationwide, the government plans to install a new Metaverse Hub this year to provide space and facilities to support startups. The country plans to create a Metaverse Fund to provide financial assistance to SMEs to expand through mergers and acquisitions.

Through support measures, the government expects annual sales of more than 5 billion won from each of the 220 companies specializing in Metaverse in 2026.

Since the Metaverse is different from the Web, the government said it would set up a pan-government agency to review relevant legislation and amend regulations as necessary.

Fiber2Fashion News Desk (DS)

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South Korea aims to become the world’s fifth largest metaverse market by 2026

Source link South Korea aims to become the world’s fifth largest metaverse market by 2026

The post South Korea aims to become the world’s fifth largest metaverse market by 2026 appeared first on Eminetra.

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