Korea’s largest mobile operator SK Telecom has entered into a memorandum of understanding with Seoul Broadcasting System (SBS) for the joint development of media business.
The new deal means that SK Telecom, which commercialised a 5G network in December 2018, now partners with the three largest terrestrial TV broadcasters in Korea, namely KBS, MBC and the aforementioned SBS.
SK Telecom says that it will work with each partner to develop new media solutions and business models based on 5G. They will jointly develop 5G-based 4K/Ultra HD live broadcasting system; conduct trial application of the system for broadcasting of sports and other events; create 5G-based innovative content; and explore possibilities in digital advertisement, augmented reality and hologram.
“Through MOUs with diverse broadcasting companies, SK Telecom will create new business opportunities in the media solutions and content markets by leveraging its strength in media-related technologies,” commented Kim Hyuk, vice president and head of 5GX Media Business Group.
The MOU with SBS follows SK Telecom’s January agreement with Sinclair Broadcast Group, one of the largest TV broadcasting companies in the US, to establish a joint venture company to lead the next-generation broadcasting solutions market in North America.