Collaborating on tech ventures and artistic adventures
Türk Telekom and Korea Telecom have signed a comprehensive cooperation agreement that includes details of 5G research and development, Broadband TV News has revealed. In addition to the study and commercialisation of 5G the telcos will also evaluate joint investment opportunities for start-ups and exchange media content for their respective TV platforms.
Content provided by Korea Telecom will be offered to viewers of Türk Telekom’s IPTV/OTT platform. Korean intellectual property is in huge demand around the world, as was reported in July. Korean ‘K-Pop’ bands have been invited to meet the US President and drama like Squid Games being used to prop up Netflix. In March in March 2021 South Korean telecom giant KT Corp’s new KT Studio Genie was launched with 500 billion Korean won (€375 million) and a brief to produce over 30 new original drama series and 300 entertainment shows through 2025.
Türk Telekom CEO Ümit Önal said the partnership with Korea Telecom has been a strategic plank since talks took place at the GSMA Mobile World Congress in March this year. “We are embarking on 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, an area we value very much, and to exchange content for our TV platform. I believe that this cooperation will yield very successful results,” said Önal.
Kyungrim Yoon, head of the Digital Transformation Division of Korea Telecom Group said the two companies had quickly decided to cooperate on more specific cooperation issues such as media and content, 5G and joint investment following the memorandum of understanding signed in March. “In the future, we will do our best to achieve successful results through active cooperation based on the strategic partnership between the two countries,” said Yoon.