Is it science fiction or reality? With an investment of 3.9 billion won, Seoul, South Korea, wants to become a “Metaverse city” and also announced a “5-year plan”

Seoul, South Korea also plans to build a Won universe city

Since July of this year, Facebook CEO Zuckerberg has publicly stated that since Facebook will fully transform into a Metaverse company by 2025, Metaverse has become a hot topic. Not only are the major technology giants vying to lay out the meta-universe track, the relevant government departments of some countries are also actively participating in it.

Whether it’s speculation or NFT (Editor’s note: NFT stands for non-homogeneous tokens, which are unique tokens attached to assets. Creators can make anything into NFT, including artworks, animations, and videos. Editing, emoticons, music, and digital trading cards.) South Korea has always been at the forefront of investment, and in the recent hot investment concept Yuan Universe, Koreans have also rushed to the forefront-from South Korea’s hot Yuan This can be seen in the universe ETF.

But more than that, Seoul , South Korea also plans to build a meta-universe city!

According to a report by the Economic Daily on the 24th, the Seoul Metropolitan Government of South Korea has recently released the “Metrouniverse Seoul Five-Year Plan” , announcing that it will build metauniverse in all business areas of the city government including economy, culture, tourism, education, and petitions in three phases from next year. Administrative service ecology. This is the first work plan proposed by the Korean local government in the field of virtual reality services. In addition, on August 31, the Ministry of Finance of South Korea issued a budget for 2022, planning to spend 20 million US dollars on the development of the Meta universe platform.

The government of Seoul in South Korea released the five-year plan of Yuan Universe, with a total investment of 3.9 billion won

On May 18 this year, the Ministry of Science, Technology and Information and Communication of South Korea initiated the establishment of the “Meta Universe Alliance”, which includes more than 200 local Korean companies and organizations such as Hyundai, SK Group, and LG Group. The goal is to create a national-level augmented reality. Platform and provide public virtual services to the society in the future.

According to a report from the Economic Daily on the 24th, the “Muniverse Seoul” plan is divided into three phases: “Initiation (2022)”, “Expansion (2023-2024)” and “Completion (2025-2026)”. Next year, the construction of the platform will be completed through the first phase of work, and services in seven major fields including economy, education, and tourism will be introduced. The total investment plan is 3.9 billion won.

According to a person from the Seoul Metropolitan Government, the “Muniverse Seoul” platform is based on the most cutting-edge digital technology. It can easily overcome difficulties such as time, space constraints and language barriers when providing public services, and can be extended to all areas of administrative services. Greatly improve the work efficiency of civil servants.

From next year, the Meta Universe platform will use virtual reality to drive reality, and continue to make efforts in the following areas.

First, enhance the competitiveness of the city. The “Seoul Fintech Lab Collection Site” project based on Metaverse has been included in the plan. The Yeouido Seoul Financial Technology Laboratory, which began operations in 2018, will be copied onto the Metaverse platform to build online and offline clusters for cultivating the financial technology industry. The “Seoul Fintech Lab Collection” will introduce Seoul’s financial technology support policies, promote settled companies, hold investment briefings, expert guidance and consultation, training and other activities. At the same time, the Seoul Investment Center in Jongno District will also be built on the Meta Universe platform, and the project is called “Won Universe Investment Seoul” . The project will be linked to the business of offline investment in the Seoul Center, and provide foreign investors with one-stop support services for investment and entrepreneurship such as virtual stand-in investment consultations, virtual meetings and education, and Seoul publicity and reality experience.

Second, improve the city’s mobility. Built on the platform tentatively called “meta-120 center of the universe” virtual integrated business lobby, Seoul City currently operates in various business applications, consulting services negotiations on the meta-universe platforms can easily do science. The Seoul Metropolitan Government plans to first analyze the current situation of scattered services in various departments, and then formulate effective service solutions. The platform also plans to build a “Metrouniverse Mayor’s Office” to provide diversified functions such as communicating with citizens and listening to opinions and suggestions, making it a communication space open to citizens at any time. In addition, the platform will also build a “meta-universe intelligent work platform” , so that municipal work in the post-epidemic era is no longer restricted by time and space, and can be completed by using network virtual space. At the same time, AI civil servants will also be introduced on the work platform, which will provide citizens with more professional, efficient and intelligent services together with virtual avatars of civil servants.

Finally, enhance the attractiveness of the city. A virtual tourist special zone will be built on the platform, and major tourist attractions in Seoul, such as Gwanghwamun Square, Deoksugung Palace, and Namdaemun Market, will be moved to the platform to form the “Won Universe Sightseeing Seoul” , which can realize city sightseeing and reappear the city. Function of righteous gate, experience ancestral temple memorial ceremony and other functions. In the future, “Muniverse Sightseeing Seoul” will also introduce popular restaurants and other physical stores, and conduct virtual space group tours through travel agencies, and watch street performances and other new tourism services that combine reality and virtuality. In addition, the city of Seoul also plans to provide “meta-universe festivals and exhibition services” . Seoul’s traditional festivals such as the Seoul Drum Festival, Lantern Festival, and Jeongdong Night Walk will be staged on the platform; some major museums and art galleries, even if they cannot If you visit in person, you can also experience the same exhibition experience on the platform anytime, anywhere.

Meta universe ETF exploded in South Korea: nearly 300 million US dollars in gold in the past month

Not only are the Korean government agencies taking action, “Meta Universe” has also set off an upsurge in the Korean capital market.

Up to now, 6 ETFs named after Metaverse have been issued overseas, of which 4 are from South Korea, namely KODEX K-Metaverse Active from Samsung Asset Management, KBSTAR iSelect Metaverse from KB Asset Management, and Hanaro from NH Amundi Asset Management. Tiger Fn Metaverse by Fn K-Metaverse MZ and Mirae Asset. Among them, the Samsung ETF is an actively managed fund, and the other three are passive funds that invest in Yuan universe-related stocks.

These four meta universe-themed ETFs have been officially listed in mid-October this year. Since their launch, their prices have risen by at least 24%. Samsung KODEX K-Metaverse Active, which has risen the most, has risen nearly 50%. In contrast, South Korea’s KOSPI Composite Index recorded a 0.3% drop this month.

Is it science fiction or reality? With an investment of 3.9 billion won, Seoul, South Korea, wants to become a "Metaverse city" and also announced a "5-year plan"

Price Trends of Four Korean Won Universe ETFs

“South Korea is the world’s fastest-growing Metaverse ETF market. It reached an asset scale of US$100 million in less than two weeks after its launch,” said Bloomberg Intelligence analyst Rebecca Sin. “The flow of funds is affected by retail demand. Pushed forward, this trend may continue in the region, and Australia and Taiwan will follow.”

According to data compiled by Bloomberg, these four Metaverse ETFs in South Korea have so far attracted about 300 million US dollars in capital inflows, of which a considerable part of them have been inflows in the past week. Bloomberg analysts predict that by the end of this year, the assets of these funds may exceed $600 million, with 90% of the funds coming from retail investors.

Morgan Stanley analyst Seyon Park wrote in a report: “During the recent earnings season, the meta-universe theme of Korean video game publishers is very obvious.”

In addition to the Metaverse ETF listed in South Korea, the Metaverse-themed ETF “Roundhill Ball Metaverse ETF” listed in the United States is also very popular, especially after Facebook announced that it was renamed Meta. The fund inflows increased significantly and the scale of funds expanded rapidly. At 290 million US dollars, it has become the world’s largest Meta Universe ETF.

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