Korea’s SK Telecom (SKT) and Singtel has inked a memorandum of understanding to jointly grow the metaverse business in the Asia-Pacific region, starting with Singapore.
Singtel will share its 5G and other technology expertise while SKT will provide insights gleaned from its ifland metaverse platform. This involves the development of virtual versions of places in Singapore, customised avatars of locals and organisation of exclusive events for Singtel customers to be jointly promoted in market to consumers and enterprises. One such event is slated to take place in January 2023.
“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,” said Anna Yip (top left), Chief Executive Officer of Consumer at Singtel.
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.
“Through cooperation with Singtel, we will be expanding our metaverse business into the Asia Pacific region. We will work closely with Singtel to create success stories for our metaverse service in the global markets,” said Ha Min-Yong (top right), Chief Development Officer of SKT.