SK Telecom has signed a memorandum of understanding with Singtel, to jointly develop the metaverse business in countries where the group operates in, starting with Singapore. Under the terms of the deal, Singtel will share its 5G and other technology expertise across the Asian Pacific region, and SK Telecom will provide its insights from the operation of SK Telecom’s metaverse platform dubbed ‘ifland’, in South Korea, as well as metaverse-related technologies. 

This involves the development of virtual versions of places in Singapore, customised avatars of locals and organisation of exclusive events for Singtel customers to be jointly promoted in market to consumers and enterprises. One such event is scheduled to take place in January 2023. Singtel plans to release more details related to these events in December. 

The two companies also plan to explore collaborative opportunities in areas such as quantum cryptography, or advanced data encryption, to build safer networks against emerging threats.

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