KT and Venture Business Association Collaborate to Discover 'Digital New Deal' Solutions

Signed Win-Win MOU with the Venture Business Association

[Asia Economy Reporter Minyoung Cha] KT announced on the 1st that it has signed a Memorandum of Understanding (MOU) with the Korea Venture Business Association to strengthen competitiveness in the digital platform business and promote win-win cooperation with venture companies.

Through this collaboration, KT will enhance competitiveness by cooperating with excellent technologies·solutions from members of the Korea Venture Business Association in key growth sectors such as AI, big data, and cloud. Venture companies are expected to increase their business know-how and market creation capabilities.

The two companies plan to focus their cooperation under this agreement on ▲discovering and commercializing differentiated solutions in the digital platform sector ▲joint R&D for future businesses ▲exchange of new technologies.

Based on cooperation with the Korea Venture Business Association, KT will promote the discovery of differentiated solutions for digital New Deal projects. Items requiring collaboration with partners will be selected, and a public contest will be held for members of the Korea Venture Business Association. Applications for this contest will be accepted until the 24th of this month, and final selections will be made in October through evaluation. The selected members will participate in the digital New Deal project consortium led by KT.

In future new growth areas, detailed implementation plans will be prepared, including joint R&D for technology acquisition and internalization, and promotion of technology exchanges for new technologies, business trends, and issue resolution.

Shin Geum-seok, Executive Director of KT SCM Strategy Office, emphasized, “The digital platform business KT aims for requires cooperation with excellent partners to integrate various technologies and create new customer value. This agreement will serve as an opportunity to further strengthen coexistence and ecosystem formation with venture companies that have future growth potential.”

Lee Jung-min, Secretary General of the Korea Venture Business Association, said, “The association has actively promoted open innovation with large corporations. It is also the association’s role to create a stage where member companies with innovative technologies can demonstrate their capabilities, and we will continue to create opportunities for technological collaboration with large corporations in the future.”

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