March 28, 2023

South Korea’s Ministry of Science and ICT has given the green light for $51 million in investments to be made in various metaverse projects, demonstrating the country’s strong commitment to the future of the metaverse. The investment includes a fund to support the growth of metaverse companies, as well as a special investment to develop region-specific projects and services. Despite waning interest from some private companies, South Korea is continuing to invest in the local metaverse economy, with initiatives aimed at supporting metaverse projects and companies building products on virtual worlds. The first of these initiatives is a metaverse growth fund, which will provide direct funding to companies looking to develop virtual projects.

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