SK Telecom : SKT Partners with Singtel to Grow Metaverse Business in Asia Pacific
November 29, 2022 at 06:21 am
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SK Telecom (NYSE:SKM, hereinafter referred to as "SKT") today announced that it had signed a memorandum of understanding (MOU) with Asia's leading communications technology group, Singtel, to jointly grow the metaverse business in countries where Singtel operates in, starting with Singapore.
Under the MOU, Singtel will share its business and technology expertise across the Asian Pacific region, and SKT will provide its experience and insights acquired from the operation of its metaverse platform, ifland, in Korea.
SKT and Singtel will begin by discussing localization strategies for ifland in the Singaporean market. It includes developing virtual spaces of real-life places in Singapore and avatars customized to the Singaporean culture, and providing them to Singaporean customers via joint marketing activities.
The two companies will also explore collaborative opportunities in areas such as quantum cryptography, or advanced data encryption, to build safer networks against emerging threats.
"This partnership will help showcase the Singtel network's ultra-low latency, high speed and stable connectivity which is critical to creating an optimal immersive experience in the metaverse. Together with SKT, we will help drive innovation and unlock new digital use cases in ifland, creating growth opportunities for enterprises and enriching experiences for consumers. We're excited to kick this off in Singapore and in time, expand across the region," said Anna Yip, Chief Executive Officer, Consumer, Singtel.
"Through cooperation with Singtel, we will be expanding our metaverse business into the Asian Pacific region," said Ha Min-Yong, Chief Development Officer of SKT. "We will work closely with Singtel to create success stories for our metaverse service in the global markets."
SK Telecom Co. Ltd. published this content on 29 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2022 11:20:06 UTC.
SK Telecom Co Ltd is a Korea-based company primarily engaged in the provision of wireless communication services. The Company operates the business through five segments. The Wireless Communication Business segment provides mobile phones, wireless data, information communication business. The Wireline Communication Business segment offers telephones, high speed Internet, data and network rental services. The Security segment provides services such as personnel and machine security, and information protection. The Commerce segment is engaged in e-commerce business. The Other segment is involved in the businesses such as information communication, electronic banking, advertising, Internet portal services.