Korean content creators, game developers double down on bet in metaverse studio

[VA Corp.`s Hanam Studio]

Korean content creators and game developers doubling down on investments in virtual studios, the key hardware components of metaverse economy that has become a buzz word for both online and offline players.

Korean virtual studio market has become heated amid increasing popularity of K-content after global hit of Korean webtoon-based Netflix drama 'Hellbound', armed with eye-catching computer graphics.

A virtual studio refers to a space that creates immersive content using advanced IT and visual effect technologies such as augmented reality (AR) and virtual reality (VR). It is characterized by immersive content shooting in front of a super-large micro light emitting diode (LED) screen.

VA Corporation built VA Studio Hanam in Hanam, Gyeonggi Province last June with a total area of 11,265 square meters to house three virtual studios. The company will add a 95,868 square meter virtual production multi-studio in the suburbs of Seoul next year.

The studio size is also increasing. CJ ENM plans to complete a 210,381 square meter studio center in Paju, Gyeonggi Province by early next year. The center will have 13 buildings, including super-large studios and virtual studios. Ascendio will build a 132,231 square meter metaverse studio complex in Anseong, Gyeonggi-do by 2024.

Game developers are also jumping into virtual studios in a move to strengthen entertainment business by combining their expertise in game character development and metaverse. Netmarble FNC is building a VFX lab near Gwangmyeong Station with the goal of completion in the first half of next year. The company is working together with Kakao Entertainment to develop a K-pop virtual idol group. Com2uS recently acquired WYSIWYG Studios, which produced Korea's first sci-fi movie 'Space Sweepers 2020'.

Com2uS plans to create metaverse contents using its game intellectual property (IP) and build a metaverse platform that combines office, commerce, and entertainment resources. The company introduced a new job position called 'chief metaverse officer (CMVO)' who will oversee its metaverse project.

Experts agree that using a virtual studio will become a mainstream method for content production.

In a recent interview with Maeil Business Newspaper, John Riccitiello, CEO of Unity Technologies, predicted that half of the world's content will go 3D within 10 years. The Korean government estimated that Korea's immersive content market will grow to 11.7 trillion won next year, about five times larger than that of last year.

[¨Ï Maeil Business Newspaper & mk.co.kr, All rights reserved]