KT(Korea Telecom) announced the signing of a Memorandum of Understanding (MoU) with STC Group at Mobile World Congress 2019 in Barcelona on 26th to collaborate on new technology areas.
As a leading telecommunication company in Korea, KT will cooperate with STC Group, the largest Saudi Arabian telecommunication company in middle east, in various business areas; fixed/mobile communication infrastructure enhancement, smart city, smart media, R&D and so on.
Both Groups will generate and maximize the synergy effect by combining KT’s state-of-the-art ICT technologies such as 5G network, GiGA Wire(High speed internet solution utilizing copper cables), GiGAeyes(Intelligent security solution), VR(Virtual Reality) and STC’s Group business expertise and strong influence in MENA region. On the other hand, they will continuously seek other potential cooperation fields and strengthen their collaboration.
Especially, GiGA Wire is KT’s innovative broadband solution which offers internet speed of up to 1Gbps with a copper cable without deploying a separate optic cable. It is regarded as an ideal solution to enhance network speed without damaging legacy buildings, thus KT and STC Group will closely work together to develop GiGA Wire business.
KT’s CEO Dr. Hwang said “We paved the way to lead 4th Industrial Revolution utilizing both groups’ core competencies by establishing mutual cooperation with STC Group. KT will not only creating new markets and enhancing customer satisfaction, but also leading Korea’s 4th Industrial Revolution”
In addition, STC Group CEO Eng. Nasser Al Nasser said “It will be a great opportunity for STC Group to collaborate and introduce KT’s field proven solutions to Saudi Arabia. I am hoping our successful cooperation models could expand to STC’s foreign subsidiaries and other MENA countries.
Source: STC Press Release