Gyeonggi-do Provides 450 Million KRW Support for Metaverse Service Production Assistance

Gyeonggi Province is recruiting participating companies for the ‘Metaverse Service Production Support’ program until the 5th of next month.

The Metaverse Service Production Support project is a program that supports the production of artificial intelligence (AI), virtual and augmented reality, and metaverse services or content to actively introduce virtual and augmented reality technologies in the distribution sector.

The Gyeonggi Content Agency announced on the 21st that it will invest a total of 450 million KRW in the Metaverse Service Production Support project and select five participating companies. The companies finally selected can receive up to 100 million KRW in project funding depending on the tasks they undertake.

Poster for Gyeonggi-do's 'Metaverse Service Production Support'

The tasks to be performed mainly include ▲building web-based augmented reality (AR) store guide content using generative AI ▲developing an AI video masking (AI blur, a technology that automatically extracts and blurs trademarks in videos) program ▲implementing ‘PlatformL’ AI curation (providing customized information when personal data is entered) and augmented reality art objects ▲developing extended reality (XR) (virtual reality/augmented reality) content using Hanwha Hotels & Resorts’ local stories ▲and implementing interactive content (content that responds to user movements such as touching the screen or moving devices) within Disney Store.

To support this project, the Gyeonggi Content Agency signed a memorandum of understanding (MOU) on the 5th with SK Planet, LG Uplus, PlatformL, Hanwha Hotels & Resorts, Hyundai Department Store, and others. These companies will act as demand sources for this project, providing technical demand for recruiting supply sources (support companies) and supporting infrastructure for on-site verification.

Kim Tae-geun, Director of Digital Innovation at Gyeonggi Province, emphasized, "Through this project that applies future technologies to the distribution industry to provide services, supply companies will be able to commercialize by advancing their existing technologies, and demand companies will be able to create new consumption." He added, "We will contribute to strengthening the competitiveness of local companies and creating an industrial ecosystem by generating new business models applying AI and the metaverse."

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