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SK Telecom recently signed a memorandum of understanding (MOU) with Singapore AUX Media Group and Korea’s XON Studios virtual production company. It is a three-way three-party contract that will allow a technological partnership between the three firms.
According to Korea Joongang Daily, SK Telecom is already running a visual effects (VFX) studio with a consortium that includes XON Studios. It was named Tech-driven Entertainment for Asian Movement (TEAM), and with the MOU, AUX Media will join in the virtual production training program being run by SKT and the Goyang, Gyeonggido-based virtual production studio.
SK Telecom confirmed the three-way cooperation through an announcement on Monday, April 17. It said that their MOU is for technology development and business cooperation content production.
“Through a joint project to incorporate artificial intelligence (AI) in content production, the three companies will lead the AI transition of studios,” SK Telecom’s head of media partnership, Kim Hyuk, said in a statement. “The plan is to establish a global production system by connecting AI studios based in each country.”
The Korea Economic Daily further quoted Kim as saying, "We will continue to create cases of collaboration with various companies to secure technological capabilities to lead the virtual production market in the future."
SK Telecom, XON Studios, and AUX Media are also revealed to have plans to do more projects together to expand their global businesses. Some of the things they may carry out include conducting technology cooperation to advance their respective technologies and co-producing content.
They will each share their know-how in content production and cooperate on global projects. For starters, they will hold training sessions where they will share their expertise with one another, and it was mentioned that officials from AUX media are set to attend the "Virtual Production Production Training" that will be organized by SK Telecom and Xon Studio.
