- KT AR Market Won First of 92 Global Innovative Services Rated by Ovum -
- Korean Telecom Leader Innovates Immersive Shopping and Media Services-
SEOUL, South Korea, Sept. 17, 2018 /PRNewswire/ -- A new mobile shopping service using Augmented Reality (AR) developed by KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, has earned global recognition for its innovative approach to the user experience.
The cover of OVUM’s report for Innovative Service of the Month, published on August 31.
KT's AR Market, an AR-powered mobile shopping service first launched in South Korea, was recently selected for Ovum's Innovative Service of the Month. Ovum is an independent analyst and consultancy firm based in London. The British firm reviewed 92 different innovative services launched by service providers around the world in July and announced its selection of AR Market on August 31.
"The service is an excellent example of how a telco can try to secure competitive advantage in emerging technology by developing an advanced in-house technical capability," Ovum wrote in a report about its selection of AR Market. "By developing extensive AR capability in-house, KT has put itself in a strong position to become a player not just in South Korea's AR market, but also in the global AR technology movement."
The Korean telecom leader is developing immersive shopping and media services by applying next-generation Information and Communication Technologies (ICT), featuring not only AR but also Artificial Intelligence (AI) and 3D modeling. KT Chairman Hwang Chang-Gyu announced last week that KT also plans to launch VR Theater, a Virtual Reality (VR) service on Internet Protocol Television (IPTV), later this year.
KT first introduced its AR solutions for mobile shopping during the 2018 PyeongChang Winter Olympic Games in February. AR Market gives mobile users an online shopping experience that is more similar to browsing through a physical store. Shoppers can view 360-degree AR videos of different products on their smart devices.
KTH Co., KT's T-commerce unit, launched KT's first commercial AR solutions in July through K Shopping's mobile app. K Shopping, a frontrunner in South Korea's T-commerce market, introduced AR Market for lifestyle products, fashion and consumer electronics last month. NS Home Shopping, the country's largest home shopping business for groceries, also debuted KT's AR Market.
KT began accelerating its immersive media business late last year. It launched two VRIGHT (http://VRIGHT.com) VR theme parks in Seoul this year in partnership with GS Retail Co., a major convenience store chain operator in South Korea. KT plans to franchise its VR entertainment business next year both at home and overseas.
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ABOUT KT CORP. (KRX: 030200; NYSE: KT)
KT Corporation, Korea's largest telecommunications service provider reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company leads the 4th industrial revolution with high speed wire/wireless network and innovative ICT technology. After installing 4.5 million fixed lines for 20 million users in just 12 years, KT was the first telecom provider to introduce 5G broad-scale trial service in 2018. It is another step in KT's continuous efforts to deliver essential products and services as it seeks to be the No.1 ICT Company and People's Company.
For more information, please visit our English website at https://corp.kt.com/eng/
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