After announcing to adopt non-fungible token (NFT) copyright policy, South Korea’s Ministry of Culture, Sports, and Tourism appeared to fulfil incoming President Yoon Suk- yeol’s pledge to strengthen the metaverse ecosystem.
The South Korean government appeared to be fulfilling President-elect Yoon Suk-campaign yeol’s promise when the Ministry of Culture, Sports, and Tourism announced on April 12 that it will implement an NFT copyright policy. This copyright policy is expected to assist South Korea in dealing with the scourge of fake NFTs while also supporting the metaverse ecosystem.
As per the report, Yoon Suk-yeol’s promised to “nurture a new concept digital asset market through NFT activation” during his election campaign. Furthermore, the incoming president has stated that if elected, he will revitalise the token economy.
Following the April 12 announcement, South Korea’s government — through the Ministry of Culture, Sports, and Tourism — issued a request for “metaverse/NFT-related copyright issues research service.” Simultaneously, the ministry is preparing for what the report refers to as “the selection of a company and the formal contract process.”
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