Together the two will explore the commercialisation of these projects and potential joint investment opportunities for start-ups and media content exchange for TV platforms.
“I am happy to announce that we have started to take concrete steps within the scope of the strategic cooperation agreement we signed with Korea Telecom at the GSMA Mobile World Congress in March this year," said Ümit Önal, CEO of Türk Telekom.
"We are starting an exciting journey with Korea Telecom, the world's leading technology company, to implement joint R&D projects in the field of 5G, to invest in start-ups, which is an area we value very much, and to exchange content for our TV platform. I believe that this cooperation will yield very successful results.”
The news follows the preliminary agreement formed between Türk Telekom and Korea Telecom the two inked at GSMA Mobile World Congress in 2021. At the time the two announced that they signed a comprehensive agreement to evaluate media/content exchange as well as cooperation projects on 5G and start-ups.
“I am very pleased that the two companies quickly decided to cooperate on more specific cooperation issues such as media/content, 5G and joint investment following the memorandum of understanding signed in March," added Kyungrim Yoon, head of digital transformation division at Korea Telecom Group.
"In the future, we will do our best to achieve successful results through active cooperation based on the 'strategic partnership' between the two countries.
Under the terms of the partnership, Türk Telekom will carry out 5G R&D studies with Korea Telecom, with the commercialisation process of these studies together. The agreement between the two companies also includes discovering new start-up companies and joint investment. Content provided by Korea Telecom under the scope of the cooperation will be delivered on Türk Telekom's IPTV/OTT platform.
