KCCI Hosts 2nd Regional Economy Online Seminar: "Finding Regional Economy Survival Strategies in the Metaverse"

KCCI Regional Economy Webinar
"Foreigners Enjoying Domestic Background Virtual Fishing Games Show Interest in Domestic Tourism"
Global Companies Fighting for Survival to Dominate the Metaverse World
Regions Must Also Pursue Differentiated Metaverse Services
Dr. Lee Seung-hwan, Software Policy Research Institute
"Need to Prepare for Changes in Local Industry, Education, and Tourism Brought by the Metaverse"

Seoul Jung-gu Korea Chamber of Commerce and Industry. / Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Donghoon Jeong] The Korea Chamber of Commerce and Industry held the 2nd regional economy webinar on the 14th under the theme of 'Revitalizing the Regional Economy Using the Metaverse.'

Dr. Seunghwan Lee, who participated as a speaker that day, explained, "One of the major concerns of regions is the continuous outflow of economically active populations to cities," adding, "In the metaverse era, talents do not need to physically relocate." He emphasized, "Zigbang, a domestic real estate platform company, created a metaverse office called 'Metapolis,' and all employees commute through the metaverse," highlighting that "regional talents can engage in various economic activities without leaving their residences."

The metaverse gained attention last October when Facebook, the world's largest social networking service (SNS), changed its name to Meta. It presented the metaverse as Facebook's vision. The metaverse refers to a three-dimensional virtual world on the internet, regarded as the 'next stage of the internet,' where people can collaborate, play, socialize, travel, and shop digitally.

According to Dr. Lee, the number of creators making items such as clothing on the domestic metaverse platform Zepeto surged from 60,000 in May 2020 to 700,000 in September 2021, just over a year later. The items they sell exceed 25 million. Dr. Lee said, "Regional talents can now more easily and quickly convert their ideas into revenue."

In fact, domestic company A, which entered Oculus Quest (the world's largest VR platform), has been developing the 'Real Fishing' metaverse game for three years. 'Real Fishing' is a game where players fish at famous fishing spots in Korea, from the waters off Ulleungdo to the Han River. Dr. Seunghwan Lee, author of 'Metaverse Begins,' said, "99% of those deeply into fishing across the country’s eight provinces are foreigners," adding, "Domestic landmarks in the metaverse are becoming key boosters for regional tourism."

Additionally, Dr. Lee advised that the metaverse can be utilized for educational innovation at regional universities, suggesting 'metaverse transformation' as a survival strategy for regional universities facing extinction due to underdeveloped local economies and limitations in recruiting new students.

Embry-Riddle Aeronautical University in the United States has implemented a 'Virtual Collision Lab' related to core educational fields such as aviation accidents and safety investigations in the metaverse, providing an educational program where students worldwide can observe and experience accident sites as investigators. This is a successful case of recruiting students globally through metaverse courses.

Meanwhile, a Korea Chamber of Commerce and Industry official stated, "Creating new value that allows experiencing regional industries and cultures in the metaverse, moving away from traditional offline thinking, will also help revitalize the regional economy."

This webinar can be viewed from the 21st of this month on YouTube (Korea Chamber of Commerce and Industry Insight) and the Korea Chamber of Commerce and Industry website's 'Online Seminar' section.

This content was produced with the assistance of AI translation services.