KOCCA Lays Foundation for Mid- to Long-Term Metaverse Strategy

Director Jo Hyun-rae Discusses Development Plans with Industry and Related Organizations
Plans to Communicate with Local Content, Game, Broadcasting, and Animation Stakeholders

The Korea Creative Content Agency (KOCCA) has begun communication with industry and related organizations to respond to changes in the industrial environment. On the 6th, Director Cho Hyun-rae met with Yoon Sang-gyu, Chairman of the Korea VRAR Content Promotion Association, Hwang Cheol-ho, Secretary General of the Korea Virtual and Augmented Reality Industry Association, Kim Wook, CEO of Dexter Studio, Hong Kyung-tae, CEO of Design Silverfish, Choi Eun-seok, Vice President of District Holdings, and Kim Jae-hoon, Vice President of Wysiwyg Studios at the CKL Enterprise Support Center to review trends in the immersive content industry and discuss development plans.

The global immersive content market is expected to generate added value worth approximately 520 trillion KRW by 2025. Last year, the domestic immersive content sales volume was about 3 trillion KRW. On this day, industry and related organization representatives proposed workforce development, research and development investment, infrastructure acquisition, and mid- to long-term funding to create more value. In particular, they showed great interest in fostering metaverse-based immersive content and exchanged various opinions. KOCCA had already formed a 'Metaverse Strategy Team' last August. They plan to establish mid- to long-term strategies by conducting a 'Metaverse Forum' composed of external field experts.

Director Cho plans to maintain close communication with industries and related organizations in regional content, games, broadcasting, animation, characters, comics, music, fashion, and more. A KOCCA official stated, "A meeting to discuss regional content development plans is scheduled for the 8th," adding, "We intend to focus on policy formulation and project discovery centered on demand through field opinion gathering."