South Korea’s commitment to metaverse technologies – technologies based on virtual worlds – is strongly supported by both national and local investments. At the end of 2021, the Seoul Metropolitan Government announced that Seoul would become the first city in the metaverse, offering public services through Metaverse Seoul. Since then, other South Korean cities have followed suit.
The many publicly supported initiatives within South Korea’s metaverse ecosystem present excellent opportunities for Danish actors in virtual technologies who are seeking innovative international partners. These opportunities are set to grow even further when South Korea associates with Horizon Europe in 2025.
The report Metaverse and Virtual Tech in South Korea provides insight into South Korea’s ecosystem, including key stakeholders, as well as the research and development potential within the creative industries, health technology, education technology, and social sciences and humanities.
The pandemic as an accelerator
South Korea’s ambitions gained particular momentum during the COVID-19 pandemic, as the demand for contactless communication drove global investors toward new VR (virtual reality) and XR (extended reality) solutions, as well as online platforms that could provide entertainment and social interactions in a time of physical distancing.
On the governmental side, the South Korean Ministry of Science and ICT has invested heavily in the field, launching programs to support research and development, industrial applications, and the creation of start-ups. These investments are part of South Korea’s broader ambition to secure the fifth-largest global market share in metaverse technology by 2026.
Education and research go virtual
From an educational perspective, a particularly noteworthy initiative is the establishment of dedicated metaverse programs at eight selected universities. These programs focus on specialised, interdisciplinary research and educational activities, with an emphasis on industrial collaboration and the implementation of new solutions in society.