VIRNECT, a digital solution for augmented reality (AR) devices, announced on Wednesday it would join South Korea’s Metaverse Korea Exhibition, with the four-day event taking place from 4 to 7 October.
The capital’s COEX Hall will host the event, providing XR content creators on the VIRNECT solution with two key events, allowing users to showcase numerous use cases across traditional enterprises and entertainment.
The Seoul, South Korean company aims to showcase how extended reality (XR) technologies facilitate streamlined workflows, simplifying operations for industries worldwide.
Virtual Collaboration, Real Results
The news comes after the enterprise debuted further updates in August on its XR and digital twins solution at the IFA NEXT 2022 in August, following a two-year pause due to the COVID-19 pandemic.
Platforms such as VIRNECT have facilitated collaboration among firms and individuals amid the pandemic, leading to a new framework for post-pandemic hybrid work.
Company figures indicate a 90 percent reduction in travel expenses and downtimes, with digital twins reshaping enterprise operations for workforces.
Businesses have been able to approach new tasks with greater success rates, reduce work travel, avoid risk, and improve quality of work processes, VIRNECT said.
James DK Kim, Senior Vice President at VIRNECT, said at the time,
“We are creating solutions of the highest technological level accessible to everyone. We are accelerating digital transformation by making all of our growing knowledge available to every user through extremely easy-to-use solutions”
VIRNECT’s metaverse solution also facilitates scalability and faster turnaround times for industrial firms with its collaborative, end-to-end digital continuity solutions.
The news comes after the XR firm announced it had earned $30 million in Series B funding from investors STIC Ventures, Hanwha, and Lotte Ventures. KDB Investment Bank, KTB Network, and KB Investment provided additional backing for the funding round.
Funding would allow the platform to “increase market competitiveness and develop stand-out technologies” to become the global leader in the XR in five years, the company said in a statement.
VIRNECT has provided its remote collaborative tool for nearly 40 key firms, including LG Chemical and Samsung Electronics, along with 27 partners such as KEPCO and KAC.
