KT and Far EasTone Sign MOU for 5G Services

KT Corp.

PR83606

 

SEOUL, South Korea, April 8, 2020 /PRNewswire=KYODO JBN/ --

 

- Taiwan Telecom Provider and KT to Collaborate on 5G and Digital Contents

- Two Global Partners Sign First Contract via KT's Remote Meeting Platform

 

KT Corporation (KRX: 030200; NYSE: KT), South Korea's largest

telecommunications company, announced today that it has signed a memorandum of

understanding (MOU) with Taiwan's Far EasTone Telecommunications Co. Ltd. (FET)

for collaboration in 5G services and digital content development.

 

Photo - https://photos.prnasia.com/prnh/20200408/2771982-1

 

The Korean telecom company said that the signing ceremony was conducted online

due to the current COVID-19 pandemic, using KT's "Engage," a virtual meeting

platform. Park Hyun-Jin, KT's senior vice president and head of Customer

Strategy Business Unit, and his FET counterpart T. Y. Yin, head of Consumer

Business Unit, signed the MOU yesterday.

 

"We will seek mutual growth of our two companies and generate new revenue by

incorporating KT's 5G service operation know-how and hallyu content with FET's

customer base," KT's Park said. "Through close consultations with FET, we will

continue to expand cooperation across the entire scope of 5G network."

 

It was the first remote contract signing ceremony via "Engage," demonstrating

the use of KT Super VR, a virtual reality device, to expand into diverse

services, including remote meetings among global business partners.

 

"Through extensive cooperation with KT, we at FET aim to upgrade some 20

percent of our existing LTE subscribers to 5G within this year," said FET

Executive Vice President T. Y. Yin. "The Republic of Korea is a global 5G

leader which commercialized next-generation service for the first time in the

world, and KT is Korea's representative telecom company possessing remarkable

experience in service development and operational know-how in 5G technology."

 

The MOU calls for joint development of fifth-generation services and digital

contents. KT expects the deal will help bolster its global leadership in 5G

services. It will facilitate worldwide sale of KT's video conferencing app,

which offers ultra-high-definition over-the-top (OTT) media streaming, webzine

content, and early commercialization of 5G roaming.

 

KT's 5G video conference application software using 3D and AR (augmented

reality) technologies allows up to eight people to meet for a high-definition

video conference. It also provides Mafia games, picture quizzes and YouTube

watching.

 

Webzine is KT's mobile media service offering high-quality web dramas and

reality entertainment shows featuring popular K-pop idol group members on a

monthly basis. These contents are among the web dramas that are to be

distributed on FET's digital service brand "friDay." Consultations will

continue on new exports, KT said.

 

For FET, the strategic linkup with KT, the world's first commercial 5G services

provider, is seen as an opportunity to become a market leader in

next-generation wireless services.

 

In recent 5G spectrum auctions, FET secured 80 MHz and 400 MHz in 3.5 GHz and

28 GHz bandwidth, respectively. The company is gearing up to commercialize 5G

services during the third quarter of this year.

 

FET is a subsidiary of the Far Eastern Group, a major Taiwanese conglomerate

that includes 10 industries and some 240 subsidiaries. FET provides 4.5G-based

wireless communications, AI speaker, and other smart home services, as well as

diverse digital contents in video, music and shopping.

 

ABOUT KT CORPORATION (KRX: 030200; NYSE: KT)

 

KT Corp., Korea's largest telecommunications service provider, reestablished in

1981 under the Telecommunications Business Act, is leading the era of

innovations in the world's most connected country. The company is leading the

4th industrial revolution with high speed wire/wireless network and new ICT

technology. KT launched the world's first nationwide commercial 5G network on

April 3, 2019, after successfully showcasing the world's first trial 5G

services at the PyeongChang Winter Olympic Games in February 2018. This is

another milestone in KT's continuous efforts to deliver essential products and

services as it aspires to be the number one ICT Company and People's Company.

 

For more information, please visit our English website at

https://corp.kt.com/eng/

 

MEDIA CONTACTS

For inquiries, please contact our Global Media Relations Team at

kt.gmrt@gmail.com

 

SOURCE KT Corp.

 

Image Attachments Links:

 

Link: http://asianetnews.net/view-attachment?attach-id=361549

 

Caption: KT’s Senior Vice President Park Hyun-Jin is signing a memorandum of understanding (MOU) with his FET counterpart T.Y. Yin for collaboration in 5G services and digital content development via KT’s virtual meeting platform “Engage”.

 

 

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