South Korea's MSIT Seeks Investment Manager for $34.78 Million Metaverse Fund

According to Foresight News, South Korea's Ministry of Science and Information and Communication Technology (MSIT) is reportedly seeking an investment manager to create and manage a KRW 50 billion ($34.78 million) metaverse fund. The fund aims to support small and medium-sized risk ventures in the metaverse sector. As reported by News1, the MSIT's initiative is part of the South Korean government's efforts to foster growth and innovation in the emerging metaverse industry. The fund will provide financial assistance to startups and small businesses working on metaverse-related projects, helping them overcome challenges and achieve success in the rapidly growing market. The MSIT's announcement highlights the growing interest in the metaverse and its potential to transform various industries, including entertainment, education, and commerce. South Korea's government is actively supporting the development of the metaverse ecosystem, recognizing its potential to create new opportunities and drive economic growth.