Government Holds Digital New Deal Meeting at Metaverse "Ifland”

Lim Hye-sook, Minister of Science and ICT, held the 12th Digital New Deal Meeting jointly with ministries on the 15th at the metaverse "Ifland."

The Digital New Deal Meeting is attended by the Minister of Science and ICT, including officials from 18 government agencies and heads of related organizations.

At the meeting, in order to support Digital New Deal 2.0, they discussed the government's progress, future plans, and cooperation plans between ministries under the theme of fostering new hyperconnected industries, and listened to private experts.

At the meeting, the government announced plans to focus on investing about 2.6 trillion won in key promising areas such as Metaverse and Blockchain by 2025, With customized policy support tailored to the characteristics of each area, it announced plans to focus on creating an environment such as ➊creating new market demand, ➋expanding the infrastructure of the industry, ➌innovating technology to bridge the gap with leading countries, and ➍reorganizing the legal system to spread the new industry.

The specific main agendas are as follows:

➊ First of all, in order to create new demand, large-scale projects such as extended reality (XR), blockchain, and the IoT will be promoted in major public and private fields such as manufacturing, medical care, and education. And it plans to settle the private cloud priority use of the public sector.

➋ In order to expand the industrial base, it will support the development of open metaverse platforms (2022~2025), establish a blockchain technology innovation support center for small and medium-sized venture companies (2022), and upgrade IoT testbeds (2022~2023).

➌ In addition, for technological innovation, it will study core source technologies in VR, AR, blockchain, and digital twin fields, and develop standard process models and autonomous IoT technologies using robots.

➍ In order to create an environment such as regulatory maintenance and base expansion, the government plans to revise personal information protection laws to utilize blockchain, review the direction of system improvement such as copyright related to new technologies and improve the cloud security certification system.

Lim Hye-sook, Minister of Science and ICT, stressed, "Super-connected new industries such as Metaverse will be an opportunity to expand Korea's economic territory by converging the virtual world and the real world." She also said, "We will spare no policy efforts to help the government and the private sector unite their national capabilities to preoccupy the global market for the 'super-connected new industry', which is the core of Digital New Deal 2.0."

Reported by Smart City Today