Urbanbase Signs MOU with Hanwha Hotels & Resorts

Leveraging Core Competencies and Infrastructure Built in PropTech and Hospitality Sectors to Create Synergy
Urbanbase Expands Beyond Home Furnishing into Various Related Industries through Partnership with Hanwha Hotels & Resorts

Urbanbase and Hanwha Hotels & Resorts have signed an MOU. From the left in the photo are Jinwoo Ha, CEO of Urbanbase, and Seok Moon, CEO of Hanwha Hotels & Resorts.
[Photo by Urbanbase]

[Asia Economy Reporter Kim Jonghwa] Urbanbase Co., Ltd., a 3D spatial data platform company, announced on the 8th that it has signed a strategic business agreement (MOU) with Hanwha Hotels & Resorts Co., Ltd. to promote new business. The two companies, leading the Proptech and Hospitality industries, plan to build a mid- to long-term partnership and create synergy at every touchpoint that can innovate the spatial experience (SX).

On the 7th, Ha Jinwoo, CEO of Urbanbase, and Moon Seok, CEO of Hanwha Hotels & Resorts, met at Touch the Sky on the 58th floor of the 63 Building to sign a business agreement to explore business cooperation and joint business opportunities.

Both companies mutually agreed to link their capabilities and infrastructure to establish a future-oriented business model in the residential and interior markets. The main content of the agreement is to promote various new businesses from a mutually beneficial perspective to secure a leading market position in the rapidly changing hospitality and proptech sectors after the COVID-19 era by integrating new technologies in the proptech field.

Urbanbase possesses a large amount of non-face-to-face technology that breaks down the boundaries between virtual and reality, such as 2D blueprint 3D automatic modeling technology, 3D home design, and AR based on spatial analysis. Through the business agreement with Hanwha Hotels & Resorts, it is expected to expand the technologies, which have so far been mainly used for home furnishing brands, to various fields such as real estate and lifestyle platforms, creating new business models.

CEO Ha said, "While exploring various ways to extend Urbanbase users' online experiences offline, we discovered business touchpoints with Hanwha Hotels & Resorts," adding, "If Urbanbase's technology is combined with Hanwha Hotels & Resorts' infrastructure, I am confident that diverse cases of spatial experiences leading the future will emerge."

Hanwha Hotels & Resorts operates The Plaza Seoul, a luxury hotel with 408 rooms; Hotel Belmare in Yeosu with 100 rooms; 12 domestic directly managed resorts with a total of 5,200 rooms; one overseas resort (Saipan World Resort); five golf courses (108 holes); G-Stem Flower Shop, which has the largest number of florists in Korea; restaurants & 63 Convention Center in the 63 Building; Royal Saddle Riding Club; Water Park; and Chuncheon Jade Garden Arboretum.

Moon Seok, CEO of Hanwha Hotels & Resorts, said, "The virtual reality (VR) and augmented reality (AR) technologies possessed by Urbanbase will be a great opportunity to lead the introduction of the metaverse in the resort sector," and added, "We will discover sustainable new growth engines reflecting rapidly changing market trends and customer needs in the post-COVID-19 era."