Cyworld-Hancom, Establish 'Cyworld Hancom Town' Corporation

[Asia Economy Reporter Buaeri] Hangul and Computer and Cyworld announced on the 23rd that they have established a joint venture called 'Cyworld Hancom Town.'

Cyworld Hancom Town will operate the Cyworld metaverse platform 'Cyworld Hancom Town,' which will be simultaneously launched with Cyworld on the 17th of next month. The joint venture's shareholding ratio is 51% for Hancom and 49% for Cyworld Z.

Cyworld Hancom Town's board of directors consists of six members, equally appointed by Cyworld Z and Hangul and Computer executives. Kim Tae-hoon, Chief Operating Officer (COO) of Cyworld Z, was appointed as co-CEO. Lee Chang-hwan, a management advisor, will serve as the joint Chief Technology Officer (CTO) of Cyworld Hancom Town.

In line with the relaunch of Cyworld, the plan is to release the metaverse version of Cyworld, 'Cyworld Hancom Town,' targeting 32 million Cyworld members. While maintaining Cyworld's unique services, features such as sending notes, gifts, and wave riding will be integrated in three dimensions (3D), becoming key services of 'Cyworld Hancom Town.' Three-dimensional minimees will also appear. 'Cyworld Hancom Town' will also introduce services linked with blockchain and items.

A Cyworld Z official stated, "In the past, Cyworld was a service where acorns were received and items were sold to members, but the new Cyworld will have customers become creators in the metaverse and lead economic activities."