VR/AR companies are exploring overseas markets through overseas distribution bases.
Published2017.08.17 18:18Establishing domestic brand experience centers in Vietnam and Saudi Arabia
The Ministry of Science and ICT (Minister Yoo Young-min, hereinafter referred to as MSIT) announced that it will launch a project to support overseas distribution bases for the virtual and augmented reality (VR/AR) industry, a core component of the Fourth Industrial Revolution, and begin in earnest to help domestic companies develop overseas markets.
This project will support R&D for the development of VR/AR content and related solutions, and will help domestic companies build offline stores in the form of urban experience centers for VR content in the Middle East and Southeast Asia, thereby promoting the overseas distribution of promising domestic content.
Given that domestic VR content distribution relies heavily on foreign platforms, creating an initial market by establishing offline experience centers in major overseas locations using domestic technology is highly significant. In particular, this is expected to serve as an opportunity to accelerate the creation of a virtual and augmented reality ecosystem, along with the expanding private offline VR experience space business (so-called VR cafes).
The 3D Factory Consortium, the main organization of the project, will be in charge of building overseas urban experience centers and developing content, while participating organizations such as Bhaptics Co., Ltd. and Acts Co., Ltd. will support the development of elemental technologies such as HMD, haptics, and streaming technology required for VR game theaters by conducting R&D.
First, 3D Factory Co., Ltd. will form a consortium with SBS Co., Ltd. and Saudi Arabia's Mawrid Holding Company to open "Camp VR Hanoi" in Hanoi's landmark 72 Building in December, establishing it as a distribution hub for Southeast Asia. The center plans to introduce VR racing games, VR horror content, VR attraction theaters, and VR karaoke content services. Next July, the company plans to open a distribution hub in the Middle East in Riyadh, the capital of Saudi Arabia.
Lee Sang-hak, Director General of Software Policy at the Ministry of Science and ICT, said, “Through this project, we will be able to build experience centers with domestic brands in Vietnam and Saudi Arabia, which are attracting attention as emerging markets in the content field, and this will serve as a forward base for our developers and companies to enter the global market.” He added, “The government will also seek various policy measures to strengthen the global competitiveness of the virtual reality industry, which is a key agenda of the Fourth Industrial Revolution.”
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