Hyundai Motor invests in Netmarble’s virtual human projects

Metaverse Entertainment, a subsidiary of Netmarble F&C, has attracted 2 billion won ($1.6 million) in investment from Hyundai Motor Group’s tech fund Zer01ne, according to Netmarble on Wednesday.

Netmarble F&C is a development arm of the nation’s top mobile game developer.

Netmarble said the latest funding was based on the auto giant’s tech fund’s valuation of the metaverse company at 100 billion won.

With the investment, Netmarble said virtual humans being developed by Metaverse Entertainment will carry out various projects in cooperation with the Korean auto giant, without further elaborating on the planned projects.

The virtual humans include Rina, a virtual social media influencer who signed with entertainment agency Sublime last week, and another virtual four-member K-pop girl group which is expected to debut later this year.

By Kan Hyeong-woo (hwkan@heraldcorp.com)