The South Korean Ministry of Science and ICT pledged “full-fledged support for the creation of an expanded virtual world ecosystem (Metaverse)” in a press release on Feb. 27, 2022. This project is to be funded with the equivalent of around 187 million US dollars.
The domestic digital economy is to be strengthened and made globally competitive. Among other things, a Metaversum development competition and a hackathon are to be organized.
