Seoul gets new VR theme park

South Korean telecommunications company KT Corp and GS Retail have jointly launched their second virtual reality (VR) theme park VRIGHT, near the main gate of Konkuk University in eastern Seoul today.

The new park features some 30 new games, rides and immersive experiences in partnership with leading Korean game developers, including Smilegate and Appnori. Each activity or room will be priced from 5,000 won (US$4.50) to 49,000 won per use or hour.

Koh Yoon-Jeon, chief of KT’s future business development unit, shared: “We will strengthen partnerships with content creators, simulator manufacturers and other small and medium-sized enterprises at home and abroad.”

VRIGHT combines KT’s latest information and communication technologies (ICT) – including fifth-generation (5G) networks, VR and augmented reality (AR) – with GS Retail’s expertise in operating offline retail spaces and its distribution business.

KT targets an annual revenue of 100 billion won for its VR business by 2020, when the country’s immersive media market is expected to hit one trillion won.

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