Jeju Creative Economy Innovation Center (Director Lee Byeong-seon, hereinafter referred to as Jeju Center) has made a seed round investment in SoulX ( CEO Hwang Young-taek) through the 'Early Startup Incubation Fund' jointly operated with MY Social Company (CEO Kim Jeong-tae, hereinafter referred to as MYSC) .
SoulX is an XR (extended reality) production solutions company dedicated to providing creators with the freedom of space and expression. In the short term, it aims to enable even non-experts to easily create high-quality XR content. In the medium to long term, it aims to expand the content creation market by providing an environment where creators can freely create content.
Jeju Center anticipates high growth potential for SoulX, considering the future expansion potential of the XR market and SoulX's technological prowess. Specifically, SoulX anticipates reducing content production costs and time in the growing media market through its AI and XR technologies, and creating new opportunities and innovations in the video content field based on spatial branding.
Meanwhile, in April, the Jeju Center, along with MY Social Company (CEO Kim Jeong-tae, hereinafter MYSC), participated in the Ministry of SMEs and Startups' first round of regular investment for the Mother Fund, and was selected as the first Korean Mother Fund operator in Jeju in the "Regional Startup Early Stage" category, investing in startups outside the metropolitan area. Jeju Center and MYSC participated as general partners (GPs), while Jeju Special Self-Governing Province, Korea Mother Fund, Kakao, Korea Social Value Solidarity Fund, and Jeju University Technology Holdings participated as limited partners (LPs), raising KRW 3.5 billion.
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