KT hopes to secure corporate and government clients through metaverse-based conference platform

[Courtesy of KT]

SEOUL – South Korea’s major telecommunications company KT is seeking to attract various government organizations and private companies using its metaverse platform that provides artificial intelligence-based virtual assistants and translation services. The platform called “KT Meta Lounge” also allows users to create personal virtual spaces suitable for different meeting purposes such as social, casual and company meetings.

KT Meta Lounge is a virtual platform consisting of three buildings – a business hall, academic hall and conference hall – and an outdoor space with trees and lakes. A total of 30 users can participate in a business-related event using their avatars and share documents at the business hall. At the academy hall, users can take lectures and communicate with instructors in real time. The conference room features AI-based translation and other special services.

Users can go for walks and socialize with others outside the buildings. In June 2022, a conference on global climate change held by South Korea’s Ministry of Foreign Affairs was held through the platform.

KT said in a statement that the company will provide the metaverse platform to many educational institutions, local governments and companies targeting the business-to-business (B2B) and business-to-government (B2G) market. “To expand the market to B2B and B2G customers and provide optimized solutions, we are carrying out various collaborative projects through Meta Lounge,” Kim Young-sik, head of KT’s digital transformation business center, said in a statement. December 21 said.

The adoption of metaverse has gained momentum among companies and universities in South Korea. Hyundai Wia, a parts manufacturing unit of South Korea’s Hyundai Motor Group, opened a metaverse-based showroom in December 2021 where virtual replicas of car parts were displayed.

In March 2021, South Korea’s first virtual entrance ceremony was held at Soonchunhyung University, based in Asan about 85 kilometers (52 miles) south of Seoul. Freshmen can have special experiences such as meeting with professors, colleagues and seniors using avatars.

According to data released by market research firm Emergen Research, the global metaverse market will grow from $47.7 billion in 2020 to $828.95 billion in 2028. In December 2021, the e-commerce wing of KT partnered with blockchain company Block Labs to to develop a metaverse-based platform where users can experience real shopping malls in virtual reality.