South Korea Launches a Metaverse Alliance with Industry

Photo by Daniel Bernard on Unsplash

This morning I learned that the South Korean government has recently launched a metaverse alliance with over 200 businesses, including Samsung. The Korea Economic Daily reports:

Samsung Electronics Co. has onboarded South Korea’s government-led metaverse alliance in a move to strengthen partnership in virtual reality (VR), augmented reality (AR) and artificial intelligence (AI) sectors.  

According to the Ministry of Science and ICT (MSIT) on Aug. 3, a total of 202 firms are participating in the metaverse alliance with a number of new joiners that include Samsung. Other companies that have newly joined the alliance include Shinhan Bank, KB Kookmin Bank, SM Entertainment Co., MegaStudyEdu Co. and Cheil Worldwide.

The MSIT-led metaverse alliance kicked off on May 18 with 25 firms and institutions as participants. The initial members include the country’s three telecom giants SK Telecom Co., KT Corp. and LG Uplus, automaker Hyundai Motor Co., Naver affiliate Naver Labs Co. and Kakao affiliate Kakao Entertainment Inc. Other current members of the metaverse alliance include GIANTSTEP Inc. MAXST Co. and CJ ENM Co.

The main objective of the alliance is to establish the country’s metaverse ecosystem by growing the metaverse-related AR, VR and extended reality (XR) sectors. The alliance has also designated six key industries that will adopt more metaverse technologies moving forward: medicine, manufacturing, construction, education, retail and national defense.

It will be interesting to see what comes out of this alliance, and I wonder if other nations will follow suit (if they haven’t already).


Thank you to Vytek for the heads up!

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