LGU+ vowed to secure 30 kinds of premium content by the end of this year. Cloud VR games using a 5G network have the advantage of streaming high-quality games without complicated processes such as cable connection and device installation. LGU+ will disclose a new format of VR games that would enable wireless play anywhere.
LGU+ said in a statement on Tuesday that it would partner with Lotte World, the operator of a major recreation complex in southern Seoul, and Kakao VX, a subsidiary of Kakao Games, to provide premium VR content. Lotte World has developed VR games, while Kakao VX is preparing a theme park concept game.
Nielsen, a global market research firm, forecast that the VR market would grow from $3.6 billion in 2018 to $16.3 billion in 2022 and the VR market using HMD (wireless head mounted display) is expected to grow from $500 million last year to $8.2 billion in 2022.