Recently, the ministry of science in South Korea unveiled its ambitious plans to develop a vast metaverse market and establish the country as the 5th biggest metaverse market by 2026.
South Korea Eyeing to Become a Metaverse Superpower
South Korea science ministry unveiled plans to establish the peninsula as a metaverse power by 2026, a trend that began in 2021.
The South Korean country, in particular, plans to collaborate with 220 metaverse enterprises to establish a “metaverse academy”. As a result, the country will create more than 40,000 metaverse-trained experts.
According to people familiar with the situation. South Korea is considering establishing an online Korean language institute based on the metaverse to allow users from all over the world to connect seamlessly.
Foreigners will be able to connect with a variety of metaverse projects. Including medical, K-pop, tourism, and the arts, thanks to the platform.
Bootstrapping the Startup Space via Metaverse Academy
It’s also worth noting that the government plans to launch a “K-Metaverse academy” that will engage with global metaverse businesses. Moreover help them connect with local startups in order to promote the metaverse’s burgeoning environment.
In addition, South Korea intends to enact a slew of rigorous restrictions. In addition user standards to combat the rise of illegal activities such as exploitation, harassment. And the like in the metaverse. As a result, the government will establish a set of principles and guidelines that must be followed by everyone who wishes to engage in metaverse activities.
Could 2022 Be the Year of the Metaverse?
As Facebook changed its name to Meta. All eyes are on the new technology and how it develops into a multibillion-dollar phenomenon that affects people’s lives.
Following Facebook’s lead, several big giants, including Microsoft, have expressed interest in joining the metaverse ecosystem.
According to BTCManager, the US-based retail giant Walmart is stealthily pushing into the metaverse, as seen by the company’s recent trademark filings. The trademarks’ finer features, on the other hand, are unknown.
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