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The rapid digital transformation with COVID-19 is making big changes in our lifestyles. Face-to-face relationships were quickly replaced with online, and we have experienced integrating our lives into the digital world, such as distance learning and telecommuting. Now, the time we spend online is getting longer and longer. Especially, the digital-friendly generation is actively working in a new world called the metaverse.

The metaverse is a world in which the virtual world and the real world are fused, and various social, cultural, and economic activities are performed in the interaction between the virtual and real world. According to a recent Mckinsey report, the economic value of Metaverse is expected to reach $5 trillion by 2030. The metaverse industry is creating great economic value, and it is expected that many parts of our lives will be replaced by the metaverse shortly.

However, the intellectual property infringement within the metaverse is also diversifying, such as imitating famous logos in the real world on the metaverse. It is significant to find a balance between the fair use of the intellectual property and the protection of the rights of creators. In particular, Each country is required to make a joint effort to respond to intellectual property infringement in the metaverse space where there are no borders between countries.

As part of such efforts, the Presidential Council on Intellectual Property will hold the ‘Global Forum on IP & Metaverse’ on November 3rd, 2022 at JW Marriott Seoul to discuss industry trends and intellectual property issues in each country related to Metaverse and seek solutions.

We ask for your close attention and participation in this forum where experts in the field of intellectual property and metaverse from the United States, Europe, and Japan, including the World Intellectual Property Organization (WIPO) are together.

October 2022

Presidential Council on Intellectual Property