The metaverse is a simulated virtual world platform where users can engage in various activities using avatars without any physical restrictions. It can be accessed through a smartphone, PC, or a virtual reality headset.
According to Hyundai Wia on December 29, the virtual showroom was released through the company's official website as the market demand for non-face-to-face business meetings has increased. Unlike the existing website which only provided photo images and written descriptions, visitors can carefully look into three-dimensional models of parts while product information is delivered in English by Hyundai Wia employees. Metaverse-based business meetings can also be held. Machine tools will also be showcased. Visitors can check 24 types of machine tools as well as sample products that can be processed by each tool.
"The importance of online sales is being highlighted due to a coronavirus pandemic. We will build our competitive advantage in the global sales market through various methods," an unnamed Hyundai Wia official was quoted as saying.
Various domestic companies are focusing on the adoption of the metaverse. In December 2021, the ecommerce wing of South Korea's largest telecom company KT teamed up with blockchain company Block Labs to develop a metaverse-based platform where users can experience real world-like shopping malls in virtual reality. According to South Korea's National Assembly, the global metaverse market is expected to grow from 34.1 trillion won ($30.7 billion) in 2021 to 856 trillion won in 2024.
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