South Korea announces five-year metaverse strategy

South Korea's science ministry on Thursday announced a five-year strategy to lead the global metaverse competition, according to Forkast. South Korea plans to train 40,000 experts in the metaverse field to propel South Korea into the top five countries in the global metaverse market. In addition, South Korea's Ministry of Science and Information Technology said that a single metaverse has the potential to create 1.5 million jobs outside the physical world. South Korea's virtual reality market grew at an average annual rate of more than 36 percent in 2018, and is expected to be worth more than $2.5 billion by 2024, data show. The government will also focus on protecting users from the risks that virtual reality may pose by developing guidelines for the project.