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The signing ceremony of a joint development agreement between Model Solution and Virnect

2024. 07. 05

Brampton, Ontario, July 5, 2024 — Model Solution, a total hardware platform company and a subsidiary of Hankook & Company Group, signed an agreement with artificial intelligence (AI) and extended reality (XR) technology company Virnect to carry out joint research and development at Model Solution’s facility in Bucheon, South Korea, with the goal of creating smart goggles.

The two companies plan to develop, mass-produce, and launch an AR device that can be worn like goggles for use in a wide range of industries including semiconductor, display, and bio. Model Solution will design, develop, and manufacture the necessary hardware. Virnect will develop applications for the product and will also design the user interface (UI) and user experience (UX).

The resulting smart devices will incorporate innovative technologies from both companies. Expected benefits include cost savings, productivity improvements, and increased convenience for global enterprises operating large-scale facilities and consumers.

By collaborating with Virnect, Model Solution aims to strengthen its competitiveness in the global AR and XR market while applying the technology and know-how it has gained through the development of industrial AR devices since 2021.

“This agreement with Virnect — a digital transformation (DX) partner with digital twin, artificial intelligence (AI), and extended reality (XR) solutions — is the starting point that will allow both companies to grow into AR-XR specialists capable of supplying both hardware and software,” said Model Solution CEO Byungil Woo. “We will introduce innovative devices targeting the global market as a result of this cooperation.”

Meanwhile, Model Solution gained recognition as an innovative hardware platform company and attracted over 1,000 partners worldwide. These include automaker Hyundai Motor Group, as well as technology powerhouses Google, Amazon, Samsung Electronics, and LG Electronics. In addition to pursuing excellence in smartphones, laptops, and other mobile communication devices, which have driven growth in recent years, the company has set core strategic tasks in AR, robotics, and medical devices and continues to invest heavily in research and development.

In particular, the MS-AR20SE, a head-mounted industrial AR display product that Model Solution is developing, is currently undergoing field tests at Hankook Tire & Technology’s plants in Geumsan, South Korea, and Nashville, Tennessee, United States, with the goal of launching the product in South Korea in the second half of this year. The MS-AR20SE will be equipped with core functions necessary for industrial sites such as remote support and safety inspections, Model Solution is considering using software from Virnect for the remote support application to enhance the product.