The Ministry of Culture, Sports and Tourism (Minister PARK Bo Gyoon, MCST) together with Korea Copyright Commission (Chair CHOI Byung Goo, KCC) held a seminar under the title “Copyright Issues and Industry Prospects in the Extended Virtual Reality and Non-Fungible Token Environment” at Seoul Square on December 2 (Fri).

With the goal of exploring the future directions of copyright policies to foster the sustainable extended virtual reality (EVR) and non-fungible token (NFT) environment, the seminar presented two major group discussions entitled “EVR’s Past, Present, and Future” and “NFT’s Past, Present, and Future,” respectively. Drawing EVR and NFT experts from the industry, academia, and research communities, the event served as a venue for meaningful presentations, discussion, and Q&A sessions.

Before group discussions, KIM Chan Dong, Legislative Research Team Lead at KCC, gave a presentation on the topic “Research on Copyright Issues in the EVR and NFT environment.” During the presentation, he shared the outcomes of the recent research conducted by the MCST-KCC Council on EVR- and NFT-Related Copyright Issues. Launched jointly by MCST and KCC this May, the council of industry, academic, and legal experts has been conducting research on related issues over the last six months. In particular, he introduced 11 copyright issues that the Council expects to emerge in the new technology environment as well as their policy implications. 

In the EVR group discussion, YOON Sang Bo, Vice President of Galaxy Corporation, and KIM Joo Han, General Manager of Metaverse Entertainment, explored the past, present, and future of extended virtual reality with a particular focus on the changing content distribution landscape as a result of the rising EVR industry and its subsequent effects on copyrights.

The NFT group discussion was led by LAYLAY, who created the NFT Minor Heroes series in collaboration with UM Joon Ho, Tech Lead of PalaSquare. During the presentation, the NFT artist explained the roles of the market and creators amid the fast-growing NFT industry and its impact on copyright issues.

The two group discussions were followed by a floor discussion moderated by BAE Dae Heon, Chair of the Korean Copyright Law Academy. The open discussion was attended by experts from the fields of industry, research, law, and various other areas. They included AHN Chang Won, Director of VAIVcompany; PARK Jae Ha, Director of Barunson Labs; BANG Jun Seong, Senior Researcher of the Electronics and Telecommunications Research Institute; HONG Gi Hoon, Professor of Hongik University; LEE Seok Joon, Judge of Seoul Bankruptcy Court; and IM Hyung Joo, lawyer of law firm Yulchon. This diverse group of participants allowed for a fruitful exchange of copyright policy suggestions and ideas on how to promote the industry in the new technology environment.     

Further details on the event are available on the official webpage of Korea Copyright Commission (www.copyright.or.kr).

An MCST official in charge of the event commented, “In the emerging extended virtual reality and non-fungible token environment, we are facing copyright issues that are different from those we have seen in the conventional environment. By continuing this constructive dialogue with industry, academia, and various other professional societies down the road, our Ministry will explore policy directions in a way to foster the industry and protect the rights of creators at the same time.”