The government of South Korea states a $170 million fund in January to invest in the concept of virtual reality. However, its associated digital technologies set the stage for the nation’s interest in taking the lead in the so-called “metaverse world” early in 2022.

The funds will lay the groundwork for the country to be among the top five nations in metaverse development by 2026. According to South Korean President Yoon Suk-yeol, technology is a national priority. Park Jin, Minister of Foreign Affairs, stated that the country is poised to become a metaverse powerhouse.