Extended and Virtual Reality (XR, VR) specialist SKONEC Entertainment (hereinafter SKONEC) said on the 8th that it will pursue a restructuring into a "global comprehensive entertainment corporations," starting with an extraordinary shareholders meeting on the 15th.
The corporations plans to leap beyond a simple technology corporations into a next-generation content platform by combining its existing XR technology with K-content and intellectual property (IP).
SKONEC plans to push a change to its articles of incorporation to add an entertainment-centered business purpose through the extraordinary shareholders meeting. ▲ Build a virtual idol IP platform ▲ Enter the VR concert business ▲ Global fandom business, among other high value-added new businesses, will be put into full swing.
The core strategy is to expand IP in multiple directions based on XR and VR technology held by SKONEC. In particular, it decided to build an expandable IP ecosystem that consolidates games, the Metaverse, and live commerce with the rapidly growing virtual idols and "VR concerts" as the two pillars.
SKONEC said it also recruited key talent in the entertainment field in line with its overhaul. Kim Jeong-a, a former CJ ENM CEO who was nominated as an inside director candidate, has experience overseeing the entire content industry, including films, drama, investment, and distribution.
Candidate AOKI EIJI is an IT and content expert who previously worked at Itochu Corporation in Japan. Aoki will be in charge of localization strategies and partnership building to expand the VR concert business in Japan.
Another growth engine SKONEC is focusing on is the VR concert business. SKONEC plans to offer an "immersive experience" that goes beyond recreating offline performances in digital spaces by allowing fans to participate as avatars and directly engage in performances through voting or comments.
In addition, SKONEC signed a memorandum of understanding (MOU) on the 4th in Japan with Redmaker, a corporations specializing in matching IP such as animation and games with fans. Through this MOU, SKONEC will share Redmaker's sales channels in Japan, including distribution and retail, and jointly conduct content planning and development.
Park Won-cheol, CEO of SKONEC, said, "Based on the expertise of the new management, we will preempt the virtual idol and VR concert markets and prove stable and sustainable future value to investors."