The South Korean government will invest $51 million in metaverse projects

ChainCatcher news, according to Forkast, the South Korean Ministry of Science and ICT has released two policy documents in the past two days, committing a total of 67.7 billion won (approximately 51 million USD) to metaverse projects.

The government department announced on Wednesday that it will invest 27.7 billion won (approximately 21 million USD) in local services utilizing the metaverse. This 21 million USD investment will support 13 new projects in sectors such as healthcare, education, and tourism, which will leverage metaverse innovations to improve public services. Additionally, the government department announced on Tuesday the launch of a 40 billion won (approximately 30 million USD) metaverse fund, which will encourage small businesses in the metaverse sector to actively seek mergers and acquisitions to expand their operations into global markets. (Source link)