A Second 'Bichui Bunker' Opens in Seoul... "Enjoy Art and Purchase at the NFT Cafe"

Fintech Company Timonet CEO Jinwoo Park

First Immersive Media Art Experience in France
Impressive Exhibition Enjoyable Without Prior Knowledge
'Biteui Bunker' in Jeju Created After 3 Years of Preparation

Remodeling Seoul Walkerhill Theater Site
'Biteui Theater' to Open Early Next Year
Wall Height Increased Up to 20m, Four Times Taller
NFT-Linked Digital Gallery Cafe Also Planned
Serving as a Gateway Connecting Art and the Public

Claude Monet's works are being exhibited at Jeju's 'Bichui Bunker'.

[Asia Economy Reporter Donghyun Choi] In recent years, there is a must-visit spot for young travelers visiting Seongsan Ilchulbong or Seopjikoji in Jeju. It is ‘Bunker of Light,’ the country’s first immersive media art exhibition hall, which opened in November 2018. Here, even if you just casually press the camera button against the backdrop of masterpieces by overseas greats like Van Gogh or Marc Chagall, you can capture a perfect shot. This is why not only ordinary people but also famous celebrities frequently visit. As its popularity soared, follow-up immersive media art exhibition halls such as Arte Museum and Nohyeong Supermarket have also emerged. In June, even the public Jeju Museum of Contemporary Art followed the trend and held a similar type of exhibition.

The person who changed the paradigm of art travel in Jeju is Jinwoo Park (55), CEO of Timonet. He is currently busy preparing to open ‘Theater of Light,’ the second ‘Bunker of Light’ in Seoul. The site of ‘Walkerhill Theater’ at Walkerhill Hotel & Resort in Gwangjin-gu is being remodeled and is scheduled to open early next year. CEO Park said, "The height of Bunker of Light is 5.5 meters, but Theater of Light will be up to 20 meters, about four times taller," adding, "We are focusing on fully capturing the scale, characteristics, and historical significance of the space called Walkerhill Theater."

Jinwoo Park, CEO of Timonet.

Park’s area of expertise is not art. He graduated from Hanyang University with a degree in Trade, then went to France where he earned a Master’s in International Business, a PhD in Management Information Systems (MIS), and an MBA. After returning to Korea, he joined Ssangyong Information & Communications’ strategic planning team in 1996. After working at LG CNS and Korea Smart Card, he founded Timonet in November 2007. Timonet is a fintech (finance + technology) company that developed the mobile financial payment service called ‘T-money.’

"I first experienced immersive media art called ‘AMIEX’ at the Bunker of Light in Les Baux-de-Provence, France. What impressed me was that even people with no knowledge of art could fully immerse themselves and enjoy the exhibition. I thought it would be a great place for families to visit if such a space were created in Korea. The next day, I visited Culture Space, which provides the AMIEX service, explained the purpose, and signed a business contract. After three years of preparation including site selection, Bunker of Light was born."

Leveraging his know-how as a fintech specialist, CEO Park plans to transform Theater of Light into a ‘culture technology’ space. The exhibition hall will not only feature immersive media art but also open a digital gallery caf? linked with non-fungible tokens (NFTs), the biggest topic in the art world this year. The caf? will be created on an 820㎡ scale within the total 3,306㎡ (about 1,000 pyeong) area of Theater of Light. Park said, "After viewing the main exhibition, visitors will be able to purchase artworks they want to own as NFTs at the digital gallery caf?," adding, "We are preparing to showcase works by about 10 famous domestic and international artists before the opening."

Marc Chagall's works are being exhibited at the 'Bichui Bunker'.

CEO Park highly values the aspect that media art contributes not only to exhibitions but also to urban and cultural regeneration. The site of Bunker of Light was a national communication network base managing underwater optical cables connecting Japan, the Korean Peninsula, and Jeju in the 1980s. Walkerhill Theater, where Theater of Light will be established, was the venue for Korea’s first theater-style show, the ‘Walkerhill Show,’ for 50 years. Both spaces had their purposes changed around 2010 and were practically abandoned. Park said, "If Bunker of Light turned a hidden space into a bustling place again, Theater of Light represents regeneration that restores former glory to a repurposed space," emphasizing, "We considered this context when selecting the site and chose a location easily accessible to the public."

Park plans to continue expanding businesses that combine fintech and cultural industries. He is currently discussing virtual exhibitions using 3D, augmented reality (AR), and virtual reality (VR) with the Palace of Versailles in France. He is also planning NFT platforms and metaverse-based online and offline gallery services. Park said, "The combination of technology and art is not new, but the fusion and impact are accelerating due to the Fourth Industrial Revolution and the MZ generation (Millennials + Generation Z)," adding, "Our role is to present optimal services in this trend and act as a gateway connecting art and the public."