Lotte Home Shopping Launches 'Metaverse One Team' with Leading ICT Companies

AI, Blockchain·NFT, VR·XR Technology Companies and Experts Sign Business Agreement
Mutual Cooperation for New Business Initiatives Including Lotte Homeshopping Metaverse Platform

Lotte Homeshopping launched the 'Metaverse One Team' on the 12th at its headquarters in Yeongdeungpo-gu, Seoul, together with 13 domestic ICT specialized companies and experts, and signed a business agreement to build a metaverse platform. (Front row from left) Seodongwook, Vice President of Next Entertainment World; Kim Seonggeun, Vice President of Skonec Entertainment; Kim Yongguk, CEO of Linkflow; Lee Wansin, CEO of Lotte Homeshopping; Lee Sooyoung, Honorary Professor of Electrical and Electronic Engineering at KAIST; Seo Wonil, Vice President of Skelter Labs; Ko Gwangrim, CEO of Galaxia Metaverse; (Back row from left) Bae Jungjik, CEO of JSC Games; Kim Seyun, Vice Chairman of Chorokbaem Media; Yoon Junho, CEO of 4by4; Jo Youngguk, Vice President of Megazone Cloud; Kim Jaehyun, CEO of Salin; Lee Seonggyu, CEO of Engine Visual Wave; Choi Kwangjin, CEO of FXGear, are posing for a commemorative photo after the launch ceremony.

[Asia Economy Reporter Yuri Kim] Lotte Homeshopping announced on the 13th that it launched the 'Metaverse One Team' with 13 domestic information and communication technology (ICT) specialized companies and experts at its headquarters in Yeongdeungpo-gu, Seoul on the 12th, and signed a business agreement to build a metaverse platform.

Through this agreement, Lotte Homeshopping will establish a mid- to long-term strategy for building the metaverse platform it is promoting and conduct advanced technology research and joint consultations. By forming strategic partnerships with 13 companies and experts possessing innovative technologies in fields such as artificial intelligence (AI), virtual reality (VR), extended reality (XR), blockchain, non-fungible tokens (NFT), content, and cloud, it plans to lead ICT technology convergence trends and explore ways to expand services.

At the signing ceremony, company representatives and experts attended, including Lotte Homeshopping CEO Wan-shin Lee, Green Snake Media Vice Chairman Se-yeon Kim, Next Entertainment World (NEW) Vice President Dong-wook Seo, Megazone Cloud Vice President Young-guk Jo, Engine Visual Wave CEO Sung-gyu Lee, Scatter Labs Vice President Won-il Seo, and KAIST Electrical and Electronic Engineering Department Honorary Professor Soo-young Lee. At the event, Lotte Homeshopping and participating companies agreed to mutually cooperate on ▲ advanced technology research and development for building the metaverse platform ▲ strategy establishment, content planning, and technology utilization. The agreement was unusually issued as an NFT to symbolize the metaverse, and plans to expand participating companies in the future to not only advance technology but also create synergy.

According to the agreement, Lotte Homeshopping will establish a consultative body for building the metaverse platform within this month, gradually advance through strategy establishment and new technology introduction, and open an integrated platform by next year. It is preparing to launch an NFT marketplace through a mobile application (app) in April. NFT content utilizing IP (intellectual property rights) such as virtual models and virtual fashion will be linked with physical products for sale, and the NFT business will be actively promoted. It will build a 'Meta Live Studio' that realizes live commerce in a three-dimensional virtual world, allowing product and brand experiences through avatars, and will showcase XR-based shopping content at Lotte Homeshopping's large-scale shopping event 'Gwangclejeol' scheduled for April. In October, it plans to pilot metaverse recruitment and accelerate strengthening media commerce by operating a metaverse exhibition hall at an online export consultation for small and medium-sized enterprises.

Jinho, head of Lotte Homeshopping's Digital Business Division, said, "As metaverse and NFT have recently emerged as new business growth engines for companies, we have signed a business agreement with companies possessing the best professional technology and research capabilities in Korea." He added, "We will accelerate digital transformation by actively promoting metaverse services based on advanced technologies, including digital human development, blockchain, and immersive technologies."

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