Facebook to Invest $50 Million in Metaverse Research... Including Seoul National University in Korea

[Asia Economy Reporter Buaeri] Facebook announced on the 28th that it is establishing a 'Research Fund' to build a metaverse platform and will support academic institutions worldwide with a total of $50 million (approximately 59.1 billion KRW).

In Korea, Seoul National University, which conducts research on ethical technology, was selected as a beneficiary institution of the fund.

On the same day, Facebook unveiled a roadmap to build the next-generation computing platform called the 'Metaverse.' Facebook stated, "Comprehensive collaboration is essential to realize the metaverse," and added, "We will strengthen activities and research on responsible technology."

First, Facebook will establish a research fund totaling $50 million over the next two years to support independent external research activities. This fund supports the activities of academic institutions worldwide collaborating to develop the metaverse in a more responsible manner. Beneficiary institutions include Seoul National University, which conducts research on safety, ethics, and responsible technology; Howard University, which studies the impact of social diversity on IT technology; and the National University of Singapore, which focuses on privacy protection and data usage.

Facebook also disclosed details about an extended reality (XR) program aimed at enhancing the positive impact of metaverse-related technologies.

Currently, Facebook has partnerships with nonprofit organizations such as the Organization of American States (OAS), which supports technology training for small business owners and students; AfricanoFilter, Electric South, and Imisi3D, which help Africa’s development through virtual reality (VR) technology. Women in Immersive Tech, based in Europe and leading the mixed reality field while supporting women and vulnerable groups, is also a program partner.

A Facebook representative said, "Based on collaboration with external experts, we will invest in data usage technologies that protect privacy, and strive to make these platforms easier and safer to use for users with diverse backgrounds and experiences."