Hangeul Group Targets Metaverse Market... Acquires 'Frontis' View original image


[Asia Economy Reporter Bu Aeri] Hancom Group announced on the 1st that its subsidiary Hancom Intelligence has acquired a 55% stake in the metaverse platform developer 'Frontis.'


Hancom Intelligence, a consolidated subsidiary of Hancom MDS, leads the artificial intelligence (AI) and Internet of Things (IoT) businesses. Hancom Intelligence plans to enter the metaverse service market by integrating AI technology.


Founded in 2001, Frontis has developed intelligent IoT integrated control solutions, virtual reality (VR), and augmented reality (AR) content and solutions. Based on this, it focuses on developing and supplying metaverse platforms. It also plans to launch within this year the enterprise virtual education and virtual meeting platform 'XR Pandora' based on 3D metaverse, and the metaverse platform 'XR Lifetwin' based on a virtual city.


According to market research firm Strategy Analytics, the global metaverse market is expected to reach 51 trillion KRW this year and grow to approximately 315 trillion KRW by 2025.


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A Hancom official said, "We will secure future growth value by creating synergies linked with various technologies and businesses of Hancom Group."


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