South Korea is very interested in the concept of the metaverse. The move about the metaverse came from the Ministry of Science and Future Planning of South Korea. The ministry is preparing to invest 223.7 billion won, or approximately $187 million, for the growth and development of the metaverse within the country.

south korea metaverse

The Ministry stated that these funds will focus on four main objectives in order to create the ecosystem. The Ministry lists its four main objectives as follows:

  • Creating a platform,
  • To encourage professionals,
  • To promote the timed company,
  • Creating a reliable extended virtual world environment.

Finally, the ecosystem to be created aims to expand the virtual growth of media, cities and education.

It Was Announced That A Metaverse City Will Be Established In South Korea

Seoul, the capital of South Korea, has announced that it will establish its own virtual city. The city named 'Metaverse Seoul' will provide great advantages to its residents. People will be able to visit famous attractions in the city, attend festivals and even file a complaint at a virtual reality town hall.

Metaverse Seoul

Thus, South Korea, one of the major economies of Asia, showed long ago that it will not stay behind the metaverse craze. City officials plan to build a Blade Runner-style 'Metaverse Seoul' by the end of 2022. The project will kick off with a virtual event at the end of the year.

South Korean officials have announced that they will build a virtual mayor's office and even a metaverse town hall. 3D avatars will address complaints and filings in the 'Metaverse 120 Center'. So citizens will queue up to do their paperwork in virtual reality rather than in person. In addition, the city will try to provide better services for the disabled by using the virtual universe. Metaverse Seoul will also feature a 'virtual tourism zone' that includes major tourist attractions and even historical sites destroyed in previous wars. Ultimately, the world-famous Seoul Lantern Festival will open to the world in 2023 via the metaverse.