This comes from a Korean interview with the games director:
http://bbs.ruliweb.com/news/read/98015
If you don't know what White Day is, there's a remake of the original game literally releasing this week.
You can find the OT topic for it here:
So a couple years ago, a PS4 VR spin-off for White Day was announced as White Day: Swan Song:
https://www.youtube.com/watch?v=oPwhkwY6HNk
However, just today an interview with the director on the cusp of releasing the remake for the original White Day: A Labyrinth Named School has confirmed that Swan Song has turned into
White Day 2.
White Day 2 is being made in the Unreal Engine, they say it's further along than we probably think as it started development in 2014 and they have the main content basically done, now polishing and building on it. Say they're sending it to rating boards right now, and that White Day 2 should release in 2018. T
hey also confirm it is not VR exclusive, it is a more traditional game to follow up the original as Swan Song began to really turn into a sequel more than a spin-off. The platforms weren't announced yet, but White Day: Swan Song was originally announced for the PS4, so that's a safe bet there. May still have VR options, but not VR exclusive they confirm and designed it more as a full game rather than a short experience. They think people want fuller experiences both from White Day and VR games.
They also re-confirm something they said two years ago, White Day's remake wasn't just to remake the first game, they want to turn White Day into a premiere Korean horror game franchise. They want it to be a franchise, the face of Korean horror games, and have plans currently to release new White Day games every 2-3 years up until the year 2035.
The article also talks about the remake taking longer because it was their first time working with the PS4 (they had PC/Mobile experience, but making it for the PS4 had some trial and error but they got it to the quality they wanted, but it took longer than they expected), some stuff about the remake and themselves as a company and going forward.
Seems they're in White Day for the long haul, and with the remake of the original just about to release that White Day 2 may be releasing as early as next year.
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UPDATE:
Few more details and a teaser image.
Teaser website released:
http://www.whitedaygame.com/swansong/
Small loosely translated synopsis of the sequel from the teaser site:
The full title in all territories will be, "White Day 2: Swan Song".
It is confirmed to be for the PS4, and is compatible with the PSVR headset, BUT does not need the PSVR to play it. There are no current plans for a PC release (d'awww....)