"K-Metaverse” accelerates the territorial expansion around the world

The Ministry of Science and ICT (Minister Lim Hye-sook) announced that it signed a business agreement with GSMA(The Groupe Speciale Mobile Association) at the Global Mobile World Congress (MWC) 2022 in Barcelona, Spain, on March 2 to promote mutual cooperation in the metaverse sector.

GSMA has more than 750 mobile communication operators (SKT, KT, LGU+, etc.) from 220 countries around the world as its members and plays a role in presenting major trends and future strategies in the global mobile communication industry.

The Ministry of Science and ICT agreed to share information related to the development of Korea's metaverse ecosystem with GSMA, and GSMA agreed to share Korean cases with member companies and developers around the world and seek opportunities for business cooperation.

Through this, Korea's Metaverse territory can be expanded around the world. The road has opened and it is expected that Korean companies which provide platforms and technologies will grow further in the global market.

“If various policies and experiences based on the ‘Metaverse New Industry Leading Strategy’ established by the Korean government in January and the innovative business cases of the private sector spread to the world, we can lead the early stage of the virtual world market,” said Lim Hye-sook, Minister of Science and ICT. “We expect to see an international cooperation network to be activated to create new businesses among professional organizations.”

Mats Granryd, the Secretary-General of GSMA, said, "The Metaverse, which connects reality and the virtual world, and the theme of MWC 2022, 'Connectivity Unleashed', are in contact with each other," adding, "We hope that cooperation with Korea to be concrete for the GSMA Mobile 360 event scheduled to be held in Singapore in August this year."

Meanwhile, the Ministry of Science and ICT and GSMA also signed a business agreement for 5G cooperation at 'MWC 2019'. Since then, the two organizations have continued close cooperation by sharing Korea's leading 5G communication and convergence service policies and business cases through 5G CEO meetings.

Reported by Smart City Today