Virnect to Develop XR Platform Through National Project by Ministry of Industry
Virnect, an extended reality (XR) technology company, will participate in a national R&D project organized by the Ministry of Trade, Industry and Energy worth 6.1 billion won. The project aims to apply XR-based spatial computing technology to industrial sites and will develop solutions in cooperation with the Korea Electronics and Telecommunications Research Institute.
According to the Financial Supervisory Service's electronic disclosure system on the 11th, Virnect was selected as the organizer of the project to develop a spatial computing XR service platform specialized for industrial applications and signed the agreement on May 28. The project is scheduled to last 45 months, from April this year to December 2028.
The total project cost is 6.09 billion won, consisting of 4.48 billion won in government contributions and 1.618 billion won in private contributions. Virnect will receive 3.28 billion won in government subsidies, equivalent to 10.05% of its equity capital. The private contribution is planned as 286 million won in the first year and 444 million won in the second and fourth years, respectively.
Through this project, Virnect plans to commercialize XR solutions in smart manufacturing, construction, and logistics, and to open new markets. The company also explained that participation in national projects will enhance technological competitiveness and secure financial stability by attracting external R&D funds.
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