The South Korean government announced that it would invest $177 million into metaverse projects to kickstart national jobs and build new companies within the metaverse in June last year. The country’s ministry of science has now announced its plans to earmark 27.7 billion Won ($21 million) into local services that are looking to utilise the nascent space.
A press release revealed that the country’s $21 million investment will support 13 new metaverse projects in the metaverse including healthcare, tourism, and education sectors by using the metaverse to improve public services.
“The industry convergence field provides various health care services such as health care and psychological counseling,” said the press release. “Metaverse Healthcare Platform, providing quality public education services for elementary, middle, and high school students with health disabilities.”
Building a metaverse nation
The country also announced a $30 million fund to encourage and help smaller enterprises in the metaverse actively seek mergers as well as an acquisition to expand their operations to the global market.
After announcing its plans of creating a broader metaverse ecosystem in March last year, South Korea is looking like a leading nation that’s taking metaverse growth to a whole new level by kick-starting a slew of metaverse projects for both private and public sectors, especially after launching the metaverse replica of its capital city Seoul.
The United Arab Emirates is another nation that’s been making big moves lately in building a digital nation after announcing its new ministry of economy HQ in the metaverse as well as Dubai’s solid efforts that haven’t gone unrecognised.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
