June 26, 2019 12:27
Korea's largest mobile carrier will join hands with Germany's top player Deutsche Telekom in a joint venture to develop 5G technologies.
SK Telecom on Tuesday said its CEO Park Jung-ho, and Deutsche Telekom CEO Timotheus Höttges met in Seoul on Monday to clinch the deal.
The joint venture will focus on developing media transmission technology based on the 5G network, a 5G repeater and a 5G in-building solution. The two companies will also collaborate in areas of cloud gaming, augmented reality and virtual reality.
SK Telecom will invest US$30 million in a fund operated by the German company's investment affiliate Deutsche Telekom Capital Partners to secure future growth engines by backing promising tech start-ups.
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