SKT's 'Ifland' Goes to Singapore... Partners with No.1 Telecom Singtel

Haminyong, Chief Digital Officer (CDO) of SKT (right), and Anna Ip, CEO in charge of Singtel customers (left on screen), are posing for a commemorative photo after completing the agreement ceremony through a video conference on the 28th. Photo by SKT

[Asia Economy Reporter Oh Su-yeon] SK Telecom announced on the 29th that it has signed a Memorandum of Understanding (MOU) to jointly promote metaverse business with Singtel Group, the No. 1 telecommunications operator in Singapore.

Singtel is a global telecommunications company headquartered in Singapore, providing wired and wireless communication services such as mobile and high-speed internet in 21 countries worldwide, including Australia, India, Indonesia, Thailand, and the Philippines. It is currently the No. 1 wired and wireless operator in Singapore, with approximately 770 million subscribers globally.

Through this MOU, SKT and Singtel agreed to promote cooperation in the metaverse business in Singapore and to discuss joint metaverse projects targeting major countries in the Asia-Pacific region in the future.

SKT plans to secure information and insights on the global market through cooperation with Singtel, which has extensive overseas business experience, and share the service capabilities of its metaverse platform ‘ifland,’ currently operating domestically, with Singtel to create synergy for their global joint business.

The two companies will first discuss localization strategies to provide SKT’s ifland service to customers in Singapore. For example, they are expected to develop a virtual space modeled after the local Singaporean environment and avatars specialized to Singaporean customer preferences, offering these to Singtel customers along with joint marketing efforts.

In the long term, the two companies plan to expand the scope of their metaverse business cooperation beyond Singapore to major countries in the Asia-Pacific region. Additionally, they will seek cooperation methods in new business areas actively pursued by both parties, such as quantum cryptography, beyond the metaverse business.

Anna Yip, Singtel’s Chief Customer Officer (CCO), said, “This partnership with SKT will help demonstrate Singtel’s differentiated 5G potential by leading innovation in the metaverse field and providing new digital services and immersive experiences.”

Ham Min-yong, SKT’s Chief Development Officer (CDO), stated, “Through this cooperation with Singtel, SKT’s metaverse business can expand into the Asia-Pacific region,” adding, “We will create a successful case of global metaverse expansion through a strategic partnership with Singtel.”

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