to devote over $187 million to promoting blockchain-based enterprises in their early stages. Blockchain initiatives will get approximately $40 million in 2020/2021 from the South Korean government.
Increasing support and adoption of a metaverse in South Korea has been a priority for the Klaytn Foundation, an entity created to support the worldwide acceptance and ecosystem maturity of Klaytn and blockchain technology. For example, Klaytn use of layer one blockchain technology in South Korea and worldwide markets is getting popular with more than two million active accounts.
The initiative, which Lim Hyesook, minister of science and information technology, called "an unexplored digital continent with boundless potential," has received 223.7 billion won from the government.Seoul's metropolitan government is building a 3.9 billion won metaverse platform to allow citizens to access government services online.