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In its five-year strategy, South Korea plans to conquer the metaverse

On Thursday, South Korea’s scientific ministry unveiled a five-year plan to dominate the global metaverse race.

South Korea wants to generate 40,000 metaverse professionals by 2020. Thereby, propelling the country into the top five countries in the global metaverse market.

According to South Korea’s Ministry of Science and ICT (MSIT), a single metaverse has the potential to generate 1.5 million non-physical jobs.

According to MSIT data, the country’s VR market grew at a rate of over 36 percent per year in 2018. Then, and is predicted to be valued more than US$2.5 billion by 2024.

By establishing a guideline for all projects to follow, the government would also focus on protecting users from potential perils on the metaverse, such as sexual harassment and exploitation.

Due to society’s receptivity, hardware manufacturing skills, and content development. Also, Meta, formerly Facebook, recently stated that South Korea is most equipped for the metaverse.

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