[THE INVESTOR] Korean augmented reality firm Social Network announced on Nov. 7 that Seungri of popular K-pop boy band Big Bang has been appointed president of Headrock VR, its new virtual reality franchise.

Following the appointment, Social Network has received 29.5 billion won (US$26.27 million) in investment from AlpenRoute Asset Management and Hana Financial Investment, the company noted. 

Starting with its first outlet which was launched on Jan. 15 at Universal Studios in Singapore, Headrock VR plans to open more stores in the US, Mexico, Japan, China and Korea next year. 

“Our prospects in the VR theme park industry are bright after receiving the latest funding,” said Seungri. “Through these investments, we will work hard to create a global VR ecosystem.” 

Social Network, headed by founder and CEO Park Soo-wang, is one of the leading companies specializing in AR and VR. It operates over 10 AR/VR museums here, including AR Trickeye Museum, Pororo AR Museum and Ice Museum. It recently merged with VR and media firm Mediafront. 

The 29-year-old singer-turned entrepreneur has been enjoying success with his food and beverage business. He recently launched Aori Ramen, a Japanese ramen franchise with more than 50 outlets, and a hip-hop lounge Monkey Museum. 

By Ahn Sung-mi (sahn@heraldcorp.com)