SK Telecom has announced that it had signed a memorandum of understanding (MOU) with Asia’s leading communications technology group, Singtel, to jointly grow the metaverse business in countries where the group operates in, starting with Singapore.

One of four strategic partners globally and the only telco in APAC, Singtel will share its 5G and other technology expertise across the Asian Pacific region, and SKT will provide its insights from the operation of SKT’s metaverse platform, ifland, in Korea, as well as metaverse-related technologies as part of the MOU. This involves the development of virtual versions of places in Singapore, customised avatars of locals and organisation of exclusive events for Singtel customers to be jointly promoted in market to consumers and enterprises. One such event is slated to take place in Jan 2023. More details will be shared next month.

“This partnership will help showcase the Singtel network’s ultra-low latency, high speed and stable connectivity which is critical to creating an optimal immersive experience in the metaverse. Together with SKT, we will help drive innovation and unlock new digital use cases in ifland, creating growth opportunities for enterprises and enriching experiences for consumers. We’re excited to kick this off in Singapore and in time, expand across the region,” said Anna Yip, Chief Executive Officer, Consumer, Singtel.

The two companies will also explore collaborative opportunities in areas such as quantum cryptography, or advanced data encryption, to build safer networks against emerging threats. “Through cooperation with Singtel, we will be expanding our metaverse business into the Asian Pacific region,” said Ha Min-Yong, Chief Development Officer of SKT. “We will work closely with Singtel to create success stories for our metaverse service in the global markets.”

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