Lotte Data Communication acquires Vision VR to expand services

Lotte Data Communication acquired Vision VR, a virtual reality (VR) content production company, to make its move in the VR and metaverse race, the company said on Monday.

Lotte Data Communication will take its existing cloud platform and create diverse new services such as VR commerce and virtual offices using Vision VR’s technology, the company said.

Vision VR was founded in 2017 by Kim Dong-kyu, initially as a VR game developer. It switched to VR video production after realizing the market lacked high-definition VR videos with interactive elements.

The company developed its “Ultra High Definition Image Processing” technology and “Deep-interactive” technology, which allow the company to produce high-definition VR videos where viewers can interact with the characters and objects within the video, almost like a game.

Vision VR created popular VR content such as the VR interactive video “Hana Type B” in 2019 and a VR video with LG U+ titled “A Date with Son Na-eun,” where K-pop star Son Na-eun of girl group Apink takes the viewers on a virtual date.

“We aim to lead the metaverse market along with Vision VR and make good results in the global market,” said Roh Jun-hyung, CEO of Lotte Data Communication.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]