Seoul, Korea, May 3, 2020 – SK Telecom (NYSE:SKM) today announced that its executives held a video conference with Deutsche Telekom to deepen the two companies’ cooperation in information and communication technologies (ICT) to alleviate challenges caused by the coronavirus (COVID-19) pandemic.
SK Telecom and Deutsche Telekom have been working closely since 2016 to lead innovations in ICT. SK Telecom has been sharing with Deutsche Telekom its diverse fixed and wireless technologies.
Especially, with the outbreak of the novel coronavirus throughout the globe, network infrastructure and online solutions are becoming ever more important to seamlessly support people’s new way of living. In response to this, executives from SK Telecom and Deutsche Telekom discussed detailed plans to utilize their innovative ICT, including 5G, artificial intelligence (AI) and mobile edge computing (MEC), to help improve the current situation and thoroughly prepare for the post-coronavirus era.
On April 29, 2020, the two companies signed a term sheet for a technology joint venture that will launch within this year. Through this joint venture, SK Telecom and Deutsche Telekom will collaborate to expand the global 5G ecosystem by accelerating 5G deployment in Europe. SK Telecom has already provided its 5G repeaters to Deutsche Telekom to support its customer trial for 5G indoor coverage in Germany and plans to promote the adoption of its 5G repeaters in Europe. The two companies will also develop diverse MEC use cases and AI-powered solutions including immersive video calling and smart meeting solutions.
Moreover, SK Telecom and Deutsche Telekom agreed to exchange their technological expertise through Network Engineer Exchange Program once the situation improves. Through the program, SK Telecom’s network engineers will be dispatched to Germany to share their knowhow in 5G network commercialization and operation, as well as their experience in handling data traffic surges caused by a dramatic increase in the number of people working or learning from home.
The two companies also decided to increase Deutsche Telekom Capital Partners’ investment in Korean 5G startups as well as global ventures with competitive online solutions such as video conferencing platforms and cloud call centers.
“The current global crisis can be effectively addressed if we, ICT companies, join forces with our technology and expertise,” said Park Jung-ho, President and CEO of SK Telecom. “SK Telecom will continue to work closely with Deutsche Telekom to flawlessly support our customers in this new normal era brought by the coronavirus.”