Business Daily Media

Men's Weekly

.

South Korean consortiums leading the realization of industrial metaverse.

Consortium achievements illustrate the capability of industrial metaverse in 3 industry whitepapers

SEOUL, SOUTH KOREA - Media OutReach Newswire - 1 October 2024 - Technology is evolving to support modernization and enable innovation in industry.

South Korea's National IT Industry Promotion Agency (NIPA) is supporting local technology development, eventually promoting the efforts and success to an international audience.

Though often conflated with gaming and social networking, metaverse is an important tool that can improve operations and is increasingly being leveraged for industrial environments.

In 3 recently released whitepapers, NIPA and Frost & Sullivan detail the cases of successful industrial metaverse implementation in the country. By sharing these cases, NIPA is expressing the capability of domestic technology and promoting Korean expertise internationally.

Junam Lee, Director at NIPA for the Metaverse Convergence team says, "We believe that we have lots of advanced technologies to share and cooperate with nearby countries in terms of geography and culture."

Most organizations cannot easily execute industrial metaverse technology due to budget and customization requirements. These papers identify ways that this innovative technology can be implemented right now.

Supporting flexible manufacturing in the automotive industry
One of the papers published details the benefits of the industrial metaverse and how it has supported the manufacturing industry, specifically automotive. The automotive industry, which is a major part of many Asian economies, is evolving to require flexible manufacturing systems for electric and autonomous vehicles. This paper outlines the path to industrial metaverse realization that enables flexible manufacturing. The consortium led by Shutagen, a technology service company, was able to achieve business and manufacturing agility through industrial metaverse with a deployment at the Hyundai Ulsan plant.

XR devices to enable multiple use cases
Another paper looks at the use of extended reality (XR) devices and how they support the expansion of metaverse use in industry. The consortium project aimed to develop a mass-produced XR device supply chain in Korea to support use domestically and internationally. The consortium, led by P&C Solution, developed XR devices for uses like employee training, assembly line optimization, asset inspection, testing and validation, and more.

Digital twins enabling smart construction
The 3rd paper explores the construction industry and how metaverse enables digital twins of construction projects, allowing for benefits like real-time visualization, simulation, and collaboration across the entire project lifecycle. Hanmac Engineering, a construction engineering company specialized in smart construction, led the consortium to address the need for digital transformation in the construction industry.

The papers highlight the great potential benefit of implementing industrial metaverse for international companies, and illustrate how advanced South Korea companies can be great partners, regardless of budget or customization requirements. Organizations looking to modernize through new technologies must understand the current uses to leverage the potential of industrial metaverse.

Kenny Yeo, Director from Frost & Sullivan, details, "Though metaverse is still in its nascent stage, these examples have been able to leverage the technology and illustrate the practical and tangible benefits. These projects exemplify the benefits of NIPA's metaverse consortium support."

  • Safe and effective improvement in productivity is achieved through the implementation of innovative technology and metaverse.
  • Proven capability through specific and varied case studies shows flexibility and achievability for future deployments.
  • Replicable outcomes make South Korean partners attractive for international organizations looking to achieve the same results.
Lee explains, "the main benefit of these technologies is the remarkable improvement of productivity and efficiency in the field. The opportunities for application to the industry are immense, and we hope to create opportunities to collaborate with overseas companies."

With a strong belief in the advanced technologies of local companies, NIPA is sharing the capabilities and outcomes of these efforts. To learn more about these consortiums and read the case studies, visit the following links:
- Harnessing the Power of Industrial Metaverse in Modern Vehicle Manufacturing: https://www.nipa.kr/home/2-7-1-1/15650
- Reshaping South Korea XR Tech Landscapes & National Competitiveness: https://www.nipa.kr/home/2-7-1-1/15651
- Metaverse-Powered Transformation in Construction: https://www.nipa.kr/home/2-7-1-1/15652

Hashtag: #NIPA #FrostAndSullivan #Shutagen #P&CSolution #HanmacEngineering #Hyundai #Metaverse #ExtendedReality #SouthKorea


The issuer is solely responsible for the content of this announcement.

About National IT Industry Promotion Agency (NIPA)

National IT Industry Promotion Agency (NIPA) is a Korean government agency under the Ministry of Science and ICT, pioneering digital innovations in South Korea through supporting the spread of core technologies including AI, metaverse, cloud solutions and digital health. NIPA provides customized supports to fit companies' life cycles from business foundation through to global expansion.

About Frost & Sullivan

For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. .

News from Asia

Highbrow Unveils Its New Beauty Salon at The Adelphi

SINGAPORE - Media OutReach Newswire - 27 June 2025 - HighBrow, one of Singapore’s most trusted names in brow, lash, and nail care, is thrilled to announce the launch of its new beauty salon at The...

Cyberport 5 as Hong Kong's New I&T Landmark

Driving Emerging Strategic Industries Development Heralding a New Chapter in Integration of I&T and the Community HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - The Cyberport ...

VinFast signs dealer financing cooperation agreement with BCA

JAKARTA, INDONESIA - Media OutReach Newswire - 27 June 2025 - VinFast has officially entered into a pivotal financial partnership with PT Bank Central Asia Tbk. (BCA), one of Indonesia's leading p...

Food Expo PRO and Hong Kong International Tea Fair Return in August with New Coffee Zone and Expanded Halal Sector

HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo PRO and Hong Kong International Tea Fair will be staged concurr...

Food Expo PRO and Hong Kong International Tea Fair: One-Stop F&B Platform Returns in August

Spotlighting Food Science & Tech HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo PRO and Hong Kong Internat...

The best CFD broker 2025': Octa receives yet another award

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 27 June 2025 - Octa, a globally regulated and trusted broker since 2011, was recently named 'The best CFD broker 2025' by the AllForexRating.com...

DHL Express completes the modernization of its Air Hong Kong-operated fleet to boost Asia Pacific network capacity and fuel efficiency

14 A330 freighters in total have been added to the regional network, retiring the previous A300-600F fleet This is part of DHL Express's ongoing investment to enhance its network ...

Rethinking Obesity: Novo Nordisk’s Latest Initiative Urges Singaporeans to Treat, Not Blame

“Beyond the Scale” focuses on obesity as a chronic disease — urging empathy, early intervention, and evidence-based care. SINGAPORE - Media OutReach Newswire - 27 June 2025 - Imagine a chronic dis...

Trend Micro to Deliver AI Factory with Dell and NVIDIA for Secure Infrastructure at Scale

Platforms to accelerate secure AI adoption for modern IT environments HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecur...

HKICPA renews its Mutual Recognition Agreement with ACCA

HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - The Hong Kong Institute of Certified Public Accountants (HKICPA) is delighted to announce its renewal of Mutual Recognition Agreement (MRA)...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy