Social Network, a representative AR and VR company in South Korea, announced that Seungri of Big Bang has been appointed the CEO for VR. Seungri plans to expand the business from F&B to IT and launched a VR franchise called HEAD ROCK VR. The launch event was held with Seungri’s appointment ceremony and presentation about the VR franchise business.

Along with his appointment as the CEO of the VR department at Social Network, Seungri also received funding worth 29.5 billion won (approx. 26 million USD) from AlpenRoute Asset Management and Hana Financial Investment, strengthening the potential of VR business expansion. Social Network has now become the only AR/VR company valued at more than 100 billion won (approx. 88 million USD) in Asia.

“We proceeded to the investment for helping two young men - Seungri of Big Bang and Su Wang Park, venture star in South Korea - make a global VR company. We believe that they will become a global unicorn of the 4th Industry Revolution and we’ll do our best to foster them at the corporate level,” said Jin Gook Lee, CEO of Hana Financial Investment.

In fact, the words HEAD ROCK indicate that the HMD delivers a “rocking sensation” to players with their VR experience. True to his title of ‘joy-delivering entrepreneur’, Seungri directly participated in many business aspects involving brand concepts and logo design, showing his extraordinary passion for the business.

With the first international branch opening at Universal Studios on Sentosa Island in Singapore on November 15th, HEAD ROCK VR strives to become a global brand with other 8 domestic and international branches in Mexico, Japan, Las Vegas, China, Seoul, and Busan planned to be launched in this year.