Dexter Studios joined other industry giants in hosting the “Virtual Production Alliance ICVFX (In-camera Visual Effects) Forum” to bolster its competitiveness in new business areas. The four partners previously signed a Memorandum of Understanding (MOU) in July last year to revitalize the virtual production industry, and they plan to continue working together and generate greater synergies.
Dexter Studios (206560), a company specializing in VFX and content production, announced on May 31 that it hosted a joint virtual production (VP) alliance forum with Epic Games, Vive Studios, and XON Studios. The event is an opportunity for exchange where Korean and other international virtual production industry experts are invited to check up on the latest features coming down the virtual production pipeline and share their theories and knowledge. Ultimately, the goal is to share information and knowledge so that more advanced technologies can be used in practical industrial applications where virtual production technology is often used, such as movies, TV series, and OTT content.
The Virtual Production Alliance ICVFX Forum featured opening remarks from each company, case studies on applying virtual production technology overseas, demonstrations showing the workflow of virtual production processes, and a Q&A session on VFX technology. In particular, Miles Perkins, Director of the Unreal Engine Business Media Entertainment Division at Epic Games, and Juan Gomez, Director of the company’s Solution Architect Division, delivered keynote speeches as industry experts.
Perkins said, “The projects out of Korea so far have shown some excellent quality, which is very impressive.” He added, “I am attending this Forum to meet in person the companies that have pushed the envelope on the global stage in terms of virtual production technology.” Gomez also explained as an ICVFX industry expert, “Combining the latest ICVFX with an outstanding ability to produce content is an important part of fusing different technologies.” Gomez continued, “Korean content making its way onto the global market will be a good example for various countries and companies to take notes on.”
At the Virtual Production Alliance ICVFX Forum, each company played different roles in showcasing each other’s competitiveness. Dexter Studios was responsible for optimizing content produced in order to demonstrate ICVFX technology, while Vive Studios was responsible for operating the facilities to make sure each stage worked as intended with large LED displays. XON Studios was in charge of directing and hosting the ICVFX technology demonstrations, led specifically by the Director of Photography and VP Supervisor Kim Young-ro.
Kim Wook, CEO of Dexter Studios, who attended the event, said, “According to global market research firm Brand View Research, the size of the global virtual production market is expected to grow from USD 1.6 billion (KRW 2.1136 trillion) in 2022 to USD 4.7 billion (KRW 6.2087 trillion) in 2028.” He continued, “Now that we have some of the largest companies in Korea’s virtual production business working together, we’re expecting to secure large-scale marketability. We will continue to play a complementary role in strengthening our influence across the industry overall.”
Kim Se-gyu, CEO of Vive Studios, also said, “The Virtual Production Alliance ICVFX Forum is a platform for innovation and cooperation, and it offers an invaluable opportunity where key stakeholders in K-content can gather around to share new ideas and work together.” Kim added, “With this event, we aim to contribute to the development of the virtual production industry’s ecosystem and play a role in leading innovation by helping creators come up with even more creative ideas and content.”
Jang Won-ik, CEO of XON Studios, said, “In order for virtual production to become a more integral part of content production and grow seamlessly, closer collaboration between companies with expertise is a must.” He explained, “Going forward, we plan on working as part of our alliance to help grow the virtual production and develop its ecosystem.”
