"K-ICT to Overcome COVID-19" SK Telecom to Launch Joint Venture with Deutsche Telekom Within the Year

[Asia Economy Reporter Seol Gina] SK Telecom has positioned K-ICT as the savior to resolve the global crisis caused by the novel coronavirus infection (COVID-19). It plans to launch a joint venture with Deutsche Telekom, the No.1 mobile carrier in Europe, within this year to expand cooperation utilizing Korean ICT such as 5G and artificial intelligence (AI).

On the 3rd, SK Telecom announced that it held a large-scale video conference attended by about 20 executives from both companies and pledged cooperation using K-ICT including 5G, MEC, and AI. Deutsche Telekom is a global mobile carrier with approximately 240 million subscribers in 13 countries worldwide.

Going forward, SK Telecom and Deutsche Telekom will discuss and cooperate on ▲efficient 5G deployment ▲know-how on remote work, online education, and recruitment ▲evolution of cloud and MEC (mobile edge computing) technologies in preparation for the post-COVID-19 era. Additionally, they will strengthen cooperation on AI-based smart agent solutions providing non-face-to-face platforms and lifestyle safety and convenience functions, as well as AR/VR services.

To this end, the two companies signed a contract on the 29th of last month containing the key establishment conditions for a tech joint venture (Tech. JV) for joint technology development, standardization, and commercialization. This company, scheduled to launch within the year, will serve as a bridge to spread Korean ICT locally in Europe.

In particular, SK Telecom plans to dispatch infrastructure engineers to Germany through the Engineer Exchange Program (N/W Engineer Exchange Program) to promote cooperation in technology fields such as 5G commercialization and operation know-how, while sharing the technologies and know-how Korea utilized in the new environment caused by COVID-19.

The engineers will share technologies and know-how that appropriately distributed the surging data traffic caused by online school openings through 5G, LTE, etc., while implementing full remote work for all employees amid the spread of COVID-19.

SK Telecom hopes that, just as Korean nurses and miners dispatched to Germany in the 1960s contributed to the economic development and friendship between the two countries, Korean engineers today will help the evolution of global networks after half a century.

Along with this, the two companies agreed to expand investments in domestic 5G companies through the DTCP (Deutsche Telekom Capital Partners) Seoul office, established last year for joint startup investments. They agreed to invest in global startups possessing 5G and cloud-based non-face-to-face solutions such as video conferencing platforms and cloud customer centers.

Park Jung-ho, CEO of SK Telecom, said, “If global ICT companies pool their technologies and capabilities, the speed of overcoming crises will be even faster,” and added, “To effectively respond to the New Normal era triggered by COVID-19, we will actively support K-ICT not only in Europe but also in countries that need us.”

This content was produced with the assistance of AI translation services.