South Korea

Korean K-Metaverse Advancement Project Continues Successfully

The Ministry of Science and ICT-NIPA have successfully completed the 2022 Metaverse Content Global Advancement Capability Enhancement Support Project. The program promoted the advancement of seventy companies specialized on the Metaverse in the global market, and provided each with tailored support.

Making international introductions

The project is part of a greater effort by the Korean government to grow the presence of Korean companies and startups among the global competition, and more specifically the ‘Leading Strategy of New Industry, Metaverse’. Though many Korean startups and SMEs struggle with investments and entering the Metaverse field, the project hopes to help them grow with their support system.

The 11.9 billion KRW ‘Global Advancement Capability Enhancement Support Project’ covers Early Entry, Mid-sized and Leading Specialist Companies, providing them with services such as consultation about acquiring investments, managing manpower and development, as well as a number of programs to further facilitate the entry into the overseas market.

Hosting many events for visibility

The Mobile World Congress (MWC) was held in Las Vegas from September 28th for two days, and hosted the NIPA pavilion that was shared with the K-Metaverse pavilion. 28 Korean companies attended this event, meeting with buyers from the area, giving demonstrations and thus promoting products and solutions to potential business partners.

The AWE EU 2022, which was held in Lisbon at the Feira Internacional de Lisboa Convention Center in late October, 15 Korean companies attended with similar motivation for establishing an international network. During conferences at this event, the usefulness of Pivo products, NP and prospects for the Metaverse were expanded upon. Ten leading specialist companies then took the stage to pitch their services and products, hosted by a Swiss venture partner, Andrey Lunev.

The Korean Metaverse Advancement Project continues to introduce exiting new companies as well as established experts to the global market, raising the status of Korean startups, and creating international visibility for them. And as exciting as the idea of the Metaverse sector already is, it is also a certainty that these Korean companies have many more innovations in store for the world!

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