SK Telecom and China Unicom on Sunday announced they have signed a memorandum of understanding (MoU) covering a number of areas, most notably 5G technology.
Under the agreement, the two operators said they will share information and conduct joint studies in a bid to drive the standardisation and commercialisation of next-generation mobile technology.
SK Telecom and China Unicom have also agreed to establish a joint start-up incubator programme and work together on new business opportunities such as over-the-top (OTT) services.
"Through the MoU, SK Telecom and China Unicom will be able to offer differentiated and innovative services to customers," said Jang Dong-hyun, CEO of SK Telecom, in a statem ent.
In addition, SK Telecom and China Unicom will also cooperate on international roaming services to capitalise on the number of Chinese visitors to South Korea and vice versa. According to the Korea Tourism Organisation, 6.1 million Chinese visited South Korea, and 4.2 million Koreans visited China in 2014.
"China Unicom will collaborate with SK Telecom to generate tangible outcomes that will lead to enhanced customer value and future growth of the two companies," said Lu Yimin, vice chairman of China Unicom.
