This is the full text of Innosimulation's Oct. 21st (KST) press release.
The telecommunication industry is searching for new content as the next-generation 5G service will
be commercialized in South Korea next year.
VR and AR are well suited for 5G, and they are already being used in game and shopping industries.
Korea VR Festival (KVRF), the biggest VR·AR festival in South Korea opened in COEX, Seoul on
October 2nd, 2019.
VR EXPO 2019 showcased 5G technologies and VR/AR services for many domestic and international
companies. There were also global conferences, VR·AR Grand Challenges, business events, VR
Game Contests, etc.
120 companies around the world participated in VR EXPO 2019. 300 booths displayed the latest
VR·AR technologies used in productions, national defense, medical care, architecture, training,
games, etc. Among them, VR·AR content with 5G technology were outstanding.
To support promising startups and content by small developers for the ecosystem of Korea ICT
industry, National IT Industry Promotion Agency (NIPA), a South Korean government agency, is
selecting small VR/AR companies to connect with KVRF through the ‘Global Business Showroom
(GBS)’, a consulting program.
Innosimulation has been selected for the GBS support program. The
company was established in May, 2000 and led in developing hardware and software systems for
high-tech simulations with machines, electronics, VR software, etc.
Innosimulation’s main business fields are training simulations for driving tests and construction
machinery in the private sector, and for navy and air force defenses. Its simulation and VR
technologies are the best in South Korea.
Based on these technologies, the company is focusing on developing VR/Simulation equipment for
indoor physical activities at theme parks and schools. It is receiving great attention as alternatives for future physical education methods/entertainment for hot weather regions in Southeast Asia.
NIPA’s GBS program provides appropriate solutions for safe overseas expansion such as local trends,
distribution networks, policies, law, market analyses, etc., to support small companies in South Korea.
It also arranges meetings between domestic VR·AR developers and foreign buyers through network
parties for VR/AR business expansions and company introductions.
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