Urbanbase Receives Minister of Science and ICT Award for '4th Industrial Revolution Excellence'

Minister of Science and ICT Hye-sook Lim (left) and Jin-woo Ha, CEO of Urbanbase, posing after receiving the '4th Industrial Revolution Award' Minister of Science and ICT Award. Photo by Urbanbase

[Asia Economy Reporter Kim Jong-hwa] Urbanbase Co., Ltd. announced on the 7th that it received the highest award, the Minister of Science and ICT Award, at the '5th 4th Industrial Revolution Awards' jointly hosted by the Ministry of Science and ICT and the Presidential 4th Industrial Revolution Committee.

The 4th Industrial Revolution Awards is an event sponsored by the Ministry of Science and ICT, the Presidential 4th Industrial Revolution Committee, and the Korea Software Industry Association, selecting and awarding companies that have led innovative growth in South Korea's digital New Deal sector. Edtech startup Riiid, which joined the unicorn company ranks with its educational artificial intelligence (AI) solution, received the grand prize at the first event, among many other innovative companies produced over time.

Urbanbase was highly evaluated for its modeling technology that automatically converts global blueprints into 3D and its expertise in core metaverse technologies such as virtual reality (VR) and augmented reality (AR). Currently, Urbanbase provides these technologies to corporate clients such as Shinsegae Casa, Illoom, and Ace Bed through APIs and SDKs, accelerating the digital transformation of the home furnishing and interior industry. Having proven its marketability, it expanded into the Japanese market in 2019 and provides services to Japan's top furniture company, Nitori, among others.

Jinwoo Ha, CEO of Urbanbase, said, "It is an honor to receive the highest award at the '4th Industrial Revolution Awards,' where companies leading South Korea's digital New Deal gather," adding, "We will continue to move forward with the vision of innovating all areas related to spaces that encompass people's lives."

Meanwhile, Urbanbase recently accelerated the construction of a metaverse ecosystem that breaks down the boundaries between online and offline through a 13 billion KRW investment from Hanwha Hotels & Resorts. It was also recognized for its technological innovation in the metaverse sector and was selected as one of the '1000 National Representative Innovative Companies' hosted by the Financial Services Commission last May.