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South Korea Will Recruit Four Companies for Industry-leading Metaverse Content Creation Project

The Science and Information and Communications Technology Minister of South Korea has revealed that the ministry will hire numerous recruiting companies. The motive for recruiting the companies is to participate in the South Korean 2022 Metaverse Content Creation Project. The promotion of the project is being done as a part of the country’s industry-leading metaverse strategy, as stated by a director within the ministry. 

 The announcement was made due to a conjunction between the NIPA (National Information and Communication Industry Promotion Agency) and the ministry. The ministry is adamant that through the project, the crypto industry in South Korea will grow, local metaverse content creators will be supported, and numerous NFTs (non-fungible tokens) will be issued. 

News 1, a Korean language publication, said in a report that the project’s primary aim is to develop a sense of trust within the metaverse ecosystem. The report further added that the ministry would select four companies to participate in the project. Each company will get $160,000 or 200 million South Korean won. 

 Heo Won-Seok, the director responsible for the software policy within the ministry, explained in a report the motive behind the project. The director also explains why to embrace the metaverse and why South Korea is doing so. 

 In the report, he stated that the promotion of the project is being done so as a new strategy that will enable South Korea to lead in the industry. Moreover, he believes that the ministry’s project and other steps will lay down a solid basis for South Korea to become a leading nation in the metaverse. Furthermore, South Korea will ensure the provision of such content that will be enjoyed by all the age groups and give opportunities to creative creators to excel in the metaverse space. 

The report gives July 8 as the final date of application submission for those companies that wish to participate in the project. Moreover, the report also states that all those companies or content creators wanting to participate can form a consortium with the token-issuing companies.  

Metaverse is a relatively newer concept. However, with the advancements in technology, experts believe that it will have a significant impact on all the sectors of life in the future. Consequently, various industries and countries are joining the race to lead in the metaverse space.