The South Korean Ministry of Science and ICT plans to establish a metaverse fund with a scale of approximately 40 billion won this year

ChainCatcher news, according to the Korea Daily News, the South Korean Ministry of Science and ICT announced plans to raise a metaverse fund of approximately 40 billion won this year for investment management companies. This year's fund will include 23 billion won from the government (reinvested fund recovery) and 17 billion won from private contributions, with a minimum scale of 40 billion won. The selected management companies will focus on investing in small and medium-sized enterprises related to key foundational technologies such as XR, AI, digital twins, and blockchain that realize metaverse products and services, with an investment ratio exceeding 60%.

In addition, to promote the AI integration of promising metaverse enterprises, the selected management companies must also invest more than 50% in AI integration or overseas companies to continuously support active overseas expansion and exports.