HomeNewsSouth Korean Government to Invest $177.1 Million in Metaverse Projects
South Korean Government to Invest $177.1 Million in Metaverse Projects
June 2, 2022
South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects.
The program is headed by the country’s science and information and communication technologies ministry led by Lim Hyesook. Hyesook called the metaverse “an uncharted digital continent with indefinite potential,” indicating the government’s interest in taking lead in the metaverse tech.
The national fund would be first utilized to build a metropolitan level metaverse platform that would allow citizens to access various government schemes and services virtually, reported CNBC.