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SKT, Singtel sign metaverse MoU

Metaverse black and blue.png

SK Telecom (SKT) has signed an MoU with Singtel to grow the metaverse businesses where both operate, starting with Singapore.

Singtel will share its 5G and technology expertise with SKT across Asia-Pacific while SKT will provide insights from its metaverse platform, ifland, in Korea as part of the MOU.

This will involve the development of virtual versions of places in Singapore, customised avatars of locals and the organisation of exclusive events for Singtel customers.

“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,” said Anna Yip, CEO of consumer at Singtel.

“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.”

The two companies say they 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.”