[THE INVESTOR] The Ministry of Science, ICT and Future Planning on July 29 named Lotte World Adventure as the developer of its virtual reality theme park development program. 




The program is part of the government’s Virtual Reality Flagship Project that aims to develop virtual reality technologies ahead of international competitors. Along with a theme park that uses VR technologies, the government hopes to develop games, entertainment, education and other businesses that use the technologies.

The project Lotte World Adventure has been selected for will be conducted until the end of next year with a total budget of 10 billion won (US$8.92 million), which will be raised by the company and government.

For the project, Lotte will establish a research department dedicated to VR technologies and on ways to utilize them in a theme park environment.

By Choi He-suk (cheesuk@heraldcorp.com)