Cyworld Jet announced that it has signed an agreement with Hancom to establish ‘Cyworld Hancom Town’, a joint venture to operate the Metaverse platform.
The joint venture between the two companies will operate the Cyworld Metaverse platform ‘Cyworld Hancom Town’, which will be held simultaneously with Cyworld from the 17th of next month.
The joint venture’s shareholding ratio is 51% for Hangeul and Computer and 49% for Cyworld, and a six-member board of directors will be composed of equal numbers of executives from Cyworld Jet and Hangeul and Computer. Cyworld Hancom Town is operated by each representative system, and Cyworld Jet appoints Kim Tae-hoon as Cyworld Jet Chief Operating Officer (COO). In addition, Lee Chang-hwan, management advisor of fxgear, the developer of Cyworld, will serve as co-Chief Technology Officer (CTO) and be named as an internal director.
In line with the launch of the Cyworld service, Cyworld Jet plans to dominate the related market with a lifestyle metaverse service by introducing Cyworld Hancom Town, a version of the Cyworld metaverse, to 32 million Cyworld members.
The company said, “If the past Cyworld was a service that sold items to members in exchange for acorns, the new Cyworld will allow customers to become creators in the SNS metaverse and lead economic activities,” adding, “This customer-driven service is SNS Cyworld.” “We will spread it from World to Metaverse Cyworld and Hancom Town,” he said.
Source: Pangyo Techno Valley Official Newsroom
→ Go to ‘Asia Innovation Hub Pangyo Techno Valley 2021’ news