The South Korean telecommunications company signed a memorandum of understanding (MOU) with the Taiwanese telecommunications company on Tuesday. Under the MOU, the partnership would jointly develop 5G-based services and related content services.
FET is a subsidiary of Taiwan’s major conglomerate Far Eastern Group. The company promoted the establishment of a strategic business cooperative relationship with KT to advance its presence as a leading 5G service provider in Taiwan. KT is the world’s first telecom company to commercialize 5G network service.
FET Executive Vice President T. Y. Yin said that the Taiwanese company aims to upgrade around 20 percent of its existing LTE subscribers to 5G within the year. FET plans to launch its commercialized 5G service this coming summer.
With the extensive cooperation, KT aims to boost its standing as a leading 5G service provider by offering its 5G-powered original media content, internet comics, and video conferencing service to FET. The partnership would also help the Taiwanese mobile carrier to expedite the launch of its 5G network roaming service.
FET added that the company would distribute digital content through its digital content brand platform named “friDay.”
Online Meeting, Signing
KT said that Park Hyun-jin met and signed the MOU with T. Y. Yin online through a virtual space. Park is KT’s senior vice president and head of the Customer Strategy Business Unit.
Due to the COVID-19 pandemic issue, the meeting was held via Engage, KT’s virtual meeting platform. During the meeting, Park was in Seoul while Yin was in Taipei.
Park said that with KT’s knowledge for 5G service management combined with FET’s customer base, the partnership would promote new profit opportunities and mutual growth. He added that he hopes that the two telecom companies would further extend the scope of their collaboration.
FET said that it would take advantage of the close collaboration as a chance to attract more subscribers to its 5G-powered services.