South Korea's Ministry of Science and ICT plans to invest 223.3 billion won this year to promote the development of metaverse industries

South Korea's Ministry of Science and ICT announced plans to invest 223.3 billion won (approximately $174 million) this year to promote the development of the Metaverse industry, Yonhap News Agency reported. Among them, 61.5 billion won was invested in the development of metaverse core technologies such as digital humans and holograms; 68 billion won was invested in fields such as medical care, education, national defense, industrial parks, and equipment; 16.7 billion won was invested in cultivating metaverse-related talents; A M&A fund worth 40 billion won will be established to expand the scale of small and medium-sized venture capital companies.