South Korea’s biggest telecommunications company, KT Corp has announced plans to launch its first overseas virtual reality (VR) business, revealing that it intends to open a VR centre in Malaysia as part of a broader effort to expand its reach in the global information and communications technology market.
KT Corp have signed an agreement with Malaysia’s Iskandar Innovations Sdn Bhd (IISB) in order to open an VR centre in the southern state of Johor. The VR centre will be located in the international shopping area near Legoland Malaysia.
The area is already a popular tourist destination, located in the special economic region of Iskandar Malaysia, which borders with Singapore.
“We are making a significant first step in pursuing cooperative endeavour with IISB and introducing our expertise in VR business,” said Yoon Kyoung-Lim, head of KT’s Global Business Office. “KT will spare no effort or investment to successfully carry out the VR business in Malaysia.”
Datuk Khairil Anwar Ahmad of Iskandar Innovations Berhad (IIB), the parent firm of IISB, said, “I believe our cooperation will lead to the development of new solutions beyond VR and AR (augmented reality). The VR center to be set up by our two companies signals the beginning of a long partnership with KT.”
KT corp has previously been involved in VR with the launch of two VR theme parks earlier this year in Seoul, South Korea, which were launched under the VRIGHT brand name in partnership with retail chain operator GS Retail.
The company is planning to further develop its VR interests by franchising the VRIGHT brand both in South Korea and overseas. KT Corp also has plans for developing immersive media and shopping services using VR and augmented reality (AR).
Recently KT Chairman Hwang Chang-Gyu said that KT Corp would soon launch VR Theatre, a VR streaming service on its IPTV platform.
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