Lotte Homeshopping Signs Business Agreement with Megazone Cloud... "Joint Development of Digital Platforms and More"

[Asia Economy Reporter Lim Chun-han] Lotte Homeshopping announced on the 28th that it has signed a Memorandum of Understanding (MOU) on joint technology investment and mutual cooperation in digital platforms and the metaverse with Megazone Cloud, the No. 1 cloud company in Korea.

The two companies agreed to mutually cooperate on ▲cloud infrastructure operation and optimization ▲content production based on visual effects (VFX) and extended reality (XR) ▲research and commercialization of next-generation advanced technologies for metaverse business ▲joint investment and development of services utilizing artificial intelligence (AI) matching algorithm technology.

Lotte Homeshopping plans to actively promote research, development, and commercialization of various new digital and metaverse-related technologies by leveraging Megazone’s expertise and know-how.

A Lotte Homeshopping official said, “We signed this MOU with Megazone, the No. 1 cloud company in Korea, to strengthen the metaverse and digital sectors, which are new businesses continuously pursued for digital technology transformation. Through this agreement, we aim to establish a new model of coexistence and collaboration through open innovation between large corporations and mid-sized companies and plan to continuously develop it.”