In an attempt to consolidate the country’s effort to push for greater relevancy with the future global market, the South Korean government would be strengthening cooperation between the government and its private sector, in ten specially identified technologies that were deemed to be strategically important to the country in the future.
For this, the South Korean government would be facilitating more collaborations and exchange of critical information between its public and private sectors. This, so that the administration would be able to analyse, strategise and develop relevant policies to support workforce demands and future commercial decisions.
The country’s top policy makers have planned to include more experts in its research and development consultation committee, with the intent to obtain greater clarity into the identified technologies.
By facilitating more investment and effort into this pool of technology, the Korean government aspired to position the country as one of the leaders in technological innovation and develop its unique global branding of K-Tech.
The government administration has identified a range of strategic technologies which included 5G/ 6G, artificial intelligence, cybersecurity, bio-hydrogen, advanced robotic manufacturing, metaverse and others.
This move is also in line with the South Korea government’s earlier long-term road map to foster its metaverse industry, with the aim of becoming the world’s fifth-largest market in the next five years.
Under the metaverse roadmap plan, South Korea would foster at least 220 metaverse companies with sales volumes of more than 5 billion won ($4.2 million) and create a “metaverse academy” in 2022, to nurture 40,000 local experts by 2026.
Terra Link Research 