VA Corp and LG Electronics Form Strategic Partnership to Develop Virtual Production Solutions

[Asia Economy Reporter Hyungsoo Park] VA Corporation, a one-stop metaverse platform company, announced on the 18th that it will establish a joint R&D center for virtual production solution development through a strategic business agreement with LG Electronics and will carry out joint projects such as product marketing.

Earlier, LG Electronics highly evaluated VA Corporation's growth potential and signed a business agreement as an investment partner through strategic (SI) investment.

Through the business agreement, VA Corporation and LG Electronics agreed on ▲ development of products such as LED panels and hardware optimized for virtual production and continuous technological collaboration ▲ establishment of a joint R&D center for virtual production solution development ▲ promotion of joint marketing for business expansion of the collaboration model.

By December this year, a joint R&D center with a total floor area of approximately 1,100 pyeong will be established in Hanam, Gyeonggi Province. A specialized TF team for joint research and development of hardware optimized for virtual production will also be newly established. Joint marketing activities will be conducted for the LED panels and hardware products developed here. The joint R&D center to be built in the VA Studio Hanam complex will include an LED Wall solution joint R&D center, motion capture stage, metaverse 3D asset scanning and printer room, among others. It will provide production solutions for all areas of the metaverse industry, including extended reality (XR) stages, movies, dramas, advertisements, and performances.

To expand sales and secure competitiveness in the virtual production business, a multifaceted partnership utilizing a strong network will also be established. VA Corporation plans to expand new businesses and overseas market entry by leveraging LG Electronics affiliates' sales channels and overseas networks. Joint sales will also be conducted targeting global broadcasters and OTT platforms.

A VA Corporation official said, "Through the partnership with LG Electronics, we will build a highly complete IP production infrastructure that can satisfy various customer needs," adding, "We will continue to cooperate proactively to respond to the metaverse market."

This content was produced with the assistance of AI translation services.