Under the partnership, both operators will seek to accelerate the commercialisation of the technology as well as set global standards.
“Global partnership for the 5G standardisation is a critical factor for a smooth commercialisation of the 5G network in 2020,” said KT chairman Hwang Chang-gyu.
"We are going to offer the optimum 5G services and technologies through the partnership with Verizon," he added.
In addition, the agreement also involves collaboration in developing next-generatio network technologies, such as software defined networking and network functions virtualisation.
KT is planning to launch 5G at the PyeongChang Winter Olympics in 2018 while Verizon is looking to establish a 5G network infrastructure in the US as soon as possible. It is also said to be interested in KT’s 5G millimetre wave technology.
