SK Telecom and Deutsche Telekom will create a joint venture to focus on 5G development

25 Юни 2019, 10:25:29

SK Telecom and Deutsche Telekom will create a joint venture to focus on 5G developmentToday SK Telecom, South Korea's largest telecom operator, and Deutsche Telekom, Germany's largest telecom operator, announced they will set up a joint venture that will focus on the development of 5G technologies such as MPEG Media Transport (MMT), in-building 5G relay repeater, and multipath user datagram protocol (UDP). This will eventually ensure that both companies will take the lead in key 5G application markets, such as cloud gaming, AR and VR services. Deutsche Telekom attended the meeting with 60 key executives, including President of Deutsche Telekom, Timotheus Höttges, and CTO Claudia Nemat. A total of more than 100 executives from both companies discussed the 5G global business strategy.

In addition, SK Telecom invests $30 million in a $350 million fund managed by DTCP (Deutsche Telekom Capital Partners), a subsidiary of Deutsche Telekom. It is to preemptively invest in promising ICT companies in the 5G era to become a unicorn company and secure future growth engine. DTCP will establish a DTCP Asia office in Seoul with the cooperation to uncover and nurture 5G unicorn companies in Asia. SK Telecom will work with DTCP to select and recommend competitive companies.

SK Telecom president Park Jeong-ho said, "Through global cooperation in the 5G era, SK Telecom will become an ultra-ICT company that transcends the existing mobile communication area."

"We hope that the strategic partnership between Deutsche Telekom and SK Telecom will continue to be maintained in the future," said Timothy Geith, Deutsche Telekom chairman. "We hope to create substantial results through close technical cooperation between the two companies." Източник

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