Cyworld Z, “Cyworld” operator announced on the 23rd that it started creating an incorporation after completing a joint investment for creating “Cyworld Hancom Town,” a joint corporation between Hancom and Cyworld metaverse platform.
Therefore, the new corporation would run “Cyworld Hancom Town,” a Cyworld metaverse platform that will be released together with Cyworld on the 17th next month. Hancom accounts for 51% and Cyworld Z accounts for 49% of shares of joint corporation.
Cyworld Hancom Town will be comprised of 6 board members like Cyworld Z and Hancom.
Kim Tae-Hun will be appointed as COO at Cyworld Z and CEO of Hancom has not been decided.
Lee Chang-Hwan, a management consultant(PhD of electrical and electronic engineering at Seoul National University) of FXGear one of Cyworld’s developers has been appointed as joint CTO and nominated as executive director. He is expected to build a bridge between Cyworld as social media and Cyworld Hancom Town, a metaverse platform. The rest of the board members remain undecided.
A joint corporation between Cyworld Z and Hancom for creating a metaverse platform is garnering attention as it is an ideal “mashup strategy” which is referred to as a way to create new web services by combining content and services that completes a Cyworld metaverse platform where Cyworld as social media and metaverse Hancom work together for 32 million members.
Cyworld Z has developed a strategy to be at the forefront in the market by releasing Cyworld Hancom Town, a life-friendly metaverse for members from their twenties to their forties at the time of launch of Cyworld.
Source: Pangyo Techno Valley Official Newsroom
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