Korea's Strategy for the Booming XR Industry: Opportunities and Challenges

Sungjin Kim ()
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Sungjin Kim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr/en

No 24-9, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: The concept of the virtuality continuum describes the full spectrum of experiences between purely physical environments and immersive digital worlds, or virtual environments. Within this continuum lie various technologies used to manipulate our perception of reality. These technologies include virtual reality (VR), augmented reality (AR), and mixed reality (MR), and are collectively referred to as extended reality (XR) technologies. VR refers to fully simulated environments that replace the user’s perception of actual surroundings. AR stands for augmented reality, and refers to a technology that overlays digital onto the real world. One common type of AR technology are heads-up displays (HUD) installed in modern vehicles. MR combines the advantages of VR and AR, allowing users to see and interact with virtual elements layered on top of reality. Finally, XR serves as an umbrella term encompassing the three aforementioned technologies. In this article, I explore major trends, players, technologies, and policies in the XR industry, and describe the implications these trends carry for policy in South Korea.

Keywords: virtual reality; augmented reality; extended reality; VR; AR; ER; mixed reality; XR; Meta; Apple; Sony; ByteDance; Sony; Microsoft; game industry; industrial XR; XR services; Korea; KIET (search for similar items in EconPapers)
JEL-codes: L63 L86 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2024-04-30
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