SM Entertainment to establish metaverse company Studio Kwangya

SM Entertainment's virual world called Kwangya [SM ENTERTAINMENT]

SM Entertainment announced Tuesday that it will establish a company specializing in metaverse content called Studio Kwangya.

Studio Kwangya will be divided into six business areas: Virtual Human, VR Production, Post Production, VFX Production, Music Video Studio and Virtual Studio.

SM has partnered with the virtual concert platform Amaze VR to create a joint venture called Studio A, which is expected to serve as a starting point for Studio Kwangya.

Through Studio A, SM said that it plans to create immersive VR concerts for K-pop fans all around the world.

"The establishment of Studio A will create large-scale VR concerts for global artists that the audience has never experienced before," said Seung-joon, one of the CEOs of Amaze VR.

Last month, the agency announced that it will start Kwangya Club, a membership-based fan community.

Kwangya Club and Kwangya Studio are part of the agency's plan to expand the Kwangya brand by establishing a metaverse country titled “Music Nation SMTown” where it will “present a variety of futuristic businesses such as granting users digital citizenship within the country,” SM said in a statement.

BY LEE JIAN [lee.jian@joongang.co.kr]