South Korea's Ministry of Science and ICT plans to raise 40 billion won for the Metaverse Fund investment management company

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According to the Foresight News report from the Korean Daily News, the Korean Ministry of Science, Technology, and Information and Communication announced on March 24 that it plans to raise a "metaverse fund" of approximately 40 billion Korean won this year for investment management companies. This year's fund will include 23 billion won in government funding (reinvested fund recovery) and 17 billion won in private investment, with a minimum scale of 40 billion won. The selected management companies will focus on investing more than 60% in small and medium-sized enterprises related to key foundational technologies such as XR, AI, digital twins, and blockchain that realize metaverse products and services. Additionally, to promote AI integration for promising metaverse companies, the selected management companies must invest over 50% in AI integration or overseas companies to continuously support overseas expansion and export activities.

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