Despite growing pains affecting the VR industry, interesting ventures are still taking place. Korea Telecom is one of the first major providers to launch an overseas virtual reality business. Their current area of interest is Malaysia, as an agreement with Iskandar Innovations has been signed earlier this month.
Korea Telecom Eyes Malaysia
It is quite interesting to see how VR is popular in specific regions. South Korea has always been an intriguing country when it comes to new technologies. Their desire to innovate and experiment has allowed many unusual business models to flourish over the past few decades. It now appears VR can be added to this growing list.
If Korea Telecom is any indicator, there will be a relatively booming VR industry across Asia for some time to come. The major player aims to launch an overseas VR business in the country of Malaysia. That country is often mentioned in conjunction with other major Asian technology ventures, thus this decision makes a lot of sense on paper.
By signing an agreement with Iskandar Innovations a VR center managed by Korea Telecom will be opened in the coming months. This venture will go live in Johor, a Southern state in Malaysia. It is expected this will be very near the Legoland Malaysia location, which is also home to an international shopping area.
The main purpose of this expansion is to further experiment with 5G technology. For the VR industry, 5G networks will play an increasing role of importance. Additionally, Korea Telecom wants to franchise its VR entertainment business in the domestic and Malaysian market alike. Their upcoming service is called VR Theater, which can make its way of both countries later this year.
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