South Korean wealth fund sets out on a quest to take metaverse tech to the masses. The way to achieve such a goal is through a $200 billion investment that Korea Investment Corp plans to inject towards the technology. What exactly does KIC aim to do and what does it mean for the global Web3 development?
At the same time, US VC funds are also moving at quite groundbreaking pace, raising $130 billion in 2021 alone. According to <a href="https://pitchbook.com/news/articles/metaverse-web3-propaganda-phil-libin" rel="noopener noreferrer nofollow">Pitchbook</a>, just like with KIC, a good share of this volume is dedicated to Web3 and metaverse tech.
<h2 id="header-0">The market</h2>
After <a href="https://nftandgamefi.com/2022/01/24/an-ultimate-guide-to-nft-stocks-what-is-it-and-is-it-worth-investing-in/" rel="noopener noreferrer nofollow">Adidas</a> and Facebook, South Korea’s sovereign wealth fund could be the next giant to explore the Metaverse. The head of the $200 billion Korea Investment Corp has said that it is looking into investing in the Metaverse and AI as it makes a push to embrace alternative assets, Bloomberg has <a href="https://www.bloomberg.com/news/articles/2022-02-10/korea-s-200-billion-wealth-fund-bets-on-metaverse-ai-startups?cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=business&amp;utm_source=twitter" rel="noopener noreferrer nofollow">reported</a>.
Seoungho Jin, who’s been at the helm of the fund since mid-2021, said that the fund was not put off by the Federal Reserve’s planned interest rate hikes, which have been a cause of uncertainty for global markets and contributed to a Big Tech stock and crypto selloff over recent weeks.
He said that hotels could be a strong bet in the recovery from Coronavirus and that he still sees potential in Silicon Valley investments. “Some investors say Silicon Valley is already saturated, which I have to concede is partly true, but it is still a source of global growth,” he told local media. “There are still plenty of good opportunities, if you chase them eagerly.”
Jin added that the fund could expand its investments into alternative assets to represent around 25% of its portfolio by 2025, and estimated that its assets under management could swell to $300 billion.
Read the full article: <a href="https://nftandgamefi.com/2022/02/13/south-korean-wealth-fund-plans-to-pour-300-billion-into-metaverse-tech/" rel="noopener noreferrer nofollow">South Korean wealth fund plans to pour $300 billion into metaverse tech</a>

South Korean wealth fund plans to pour $300 billion into metaverse tech

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