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Korea Telecom and GS retail expand joint VR business "vright"

the two companies jointly opened the second vright park near the Korean National University in the east of Seoul

the first vright park located in the Xincun area in the west of Seoul has received more than 18000 visitors in four months

Korea Telecom plans to carry out franchise development activities of joint virtual reality business in Korea and overseas next year

Seoul, Korea, 2 July 2018/AP/-- Korea Telecom, the largest telecom company in Korea (KT Corp.) (krx:030200; nyse:kt) with its innovative cutting-edge technology, strives to explore new opportunities in the field of new generation virtual reality (VR)

on March 6, in Xincun vright Park, players posed before playing the first person shooting game

special force vr:universal war

Korea Telecom, the largest telecom company in Korea, made great efforts to open up new opportunities in the field of new generation virtual reality (VR) with its innovative cutting-edge technology

as the leader of Korea Telecom, Korea Telecom announced today that it will open its second vright virtual reality theme park near the main gate of Konkuk University in Eastern Seoul (address:). The park is jointly developed by Korea Telecom and GS retail Co., which is a large chain convenience store operator in Korea, Asia's fourth largest economy

vright combines the latest information and communication technology (ICT) - including the fifth generation (5g) network, virtual reality and augmented reality (AR) - of Korea Telecom with the expertise of GS retail in operating offline retail space and sales business. Korea Telecom plans to make the annual revenue of its virtual reality business reach 100billion won by 2020. By that time, the output value of Korea's immersive media market is expected to reach 1trillion won

KOH Yoon Jeon, the director of the future business development department of Korea Telecom, said: Korea Telecom is leading the innovation of virtual reality and augmented reality technology, so as to develop and promote a new generation of services for its immersive media business. At present, the sea freight from Brazil to China is US $25.715/t. We will strengthen cooperation with domestic and foreign content creators, simulator manufacturers and other small and medium-sized enterprises

vright park is open for trial operation today. The one week preview is open to selected college students and members of the Korea Tour Guide Association (kotga). The new virtual reality park will open to the public at noon on July 6, and will launch about 30 new games, amusement and immersive experiences with leading game developers in Korea, including Smilegate and appnori. The price of each activity/room will range from 5000 to 49000 won per user/hour

The situation is as follows:

Korea Telecom and GS retail jointly opened the first vright Park in sinchon near Yonsei University in Western Seoul in March this year. Since its opening, the two-story theme park has attracted more than 18000 visitors. Now the park has become a popular entertainment place for young people. Xincun park has popular virtual reality indoor activities and attractions, including the first person shooting game special forc but the actual effect is not satisfactory e vr:universal war and the multiplayer augmented reality dodgeball game hado

Korea Telecom will open more vright parks directly managed by it this year. The company plans to carry out the franchise development of virtual reality entertainment business next year, but before that, it needs to develop a business model that can sell its virtual reality content and platform to specific operators in South Korea and overseas at appropriate prices

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