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S. Korean, Chinese VR firms, venture capital firms to gather in Busan

All Headlines 15:02 June 01, 2017

SEOUL, June 1 (Yonhap) -- An investment forum bringing together virtual reality (VR) companies from South Korea and China, as well as top global venture capital firms will be held at an ongoing VR event in the southern port city of Busan, the government said Thursday.

The forum will take place on Friday on the sidelines of the Busan VR Festival 2017 at the Busan Exhibition & Convention Center (BEXCO), the Ministry of Science, ICT and Future Planning said. The event, the first of its kind, kicked off on Thursday for a three day-run

"The forum is aimed at fostering investment between South Korea and China, and to create a global network for local VR and AV companies as well as make inroads into the global market," the ministry said in a press release.

Earlier, the South Korean government announced that it will push to nurture the VR sector to narrow the technology gap with market leader the United States by 2020.

The ministry said it will spend a total of 400 billion won ($360 million) by 2020, as the government moves to consolidate R&D efforts by various firms and government institutions.

khj@yna.co.kr
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