The metaverse race seems to have moved beyond an ongoing battle between tech giants for supremacy. The tech is catching on with governments, and South Korea is the latest.

Korea Herald reports that Korea has set the goal to support 40,000 metaverse tech professionals by 2026. It also plans to create 220 companies and a national network of 40,000 metaverse specialists.

The country’s Ministry of Science and ICT announced that the move was geared towards responding to the social and economic changes that will be brought by the metaverse. Consequently, authorities have outlined four major goals – “activating the ecosystem for metaverse platforms, nurturing professionals, fostering companies and setting up a safe environment for all metaverse users.”

It is not seeking to monopolize metaverse development from corporate and citizens. The private sector will drive the development of the industry, while government support will go to developers as well as companies via a variety of support programs. Lim Hye-sook, Science and ICT Minister explained:

Metaverse can be described as a virtual new continent where anyone can fulfill their goals by being the protagonist. This will provide a platform for youth to explore new possibilities and to expand their horizons. […]This strategy will be implemented in close collaboration with relevant ministries. It will include supporting the revitalization of Korea’s industrial sector, creating talent and nurturing companies as well as innovative regulations to ensure Korea is a major global country.

Public services will, by example, be more focused on using privately developed metaverse solutions than building them from scratch.

South Korea’s roadmap aims to use metaverse technology in education, K-pop and tourism. Its desire to create an online Korean language school for foreigners via the metaverse is even more fascinating.

To support young talent, the government allocated up to $5.5 billion ($4.6 million) as part of its effort to create a metaverse academy. These funds will be used this year to establish two convergence graduate schools.

Students and companies will be able to take part in the metaverse development contests.

The government is planning to open a metaverse hub in late 2012 to offer space and support for startups within the sector. The metaverse fund is a financial support facility for medium and small-sized companies that want to grow through acquisitions or mergers.

The government is hoping to make 5 billion in total sales annually from more than 200 companies that specialize in the metaverse before 2026.

BTC PEERS reported that Shanghai had added the metaverse earlier this year to its five-year plan for development. The government said that it was interesting in applying the metaverse in areas such as “public services, business offices, social entertainment, industrial manufacturing, production safety, and electronic games.”

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