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Türk Telekom enters into strategic deal with Korea Telecom

This is a follow-up to the non-binding memorandum of understanding for cooperation between the two companies at the Mobile World Congress in March.

Türk Telekom and South Korean telecommunications firm Korea Telecom have signed a cooperation agreement that includes 5G R&D studies and their commercialisation, evaluating joint investment opportunities for start-ups and media content exchange for TV platforms.

In the latter case, content provided by Korea Telecom will be offered to viewers of Türk Telekom’s IPTV/OTT platform. The agreement also signals room for further bilateral media content exchange and joint effort to create new media content, depending on Turkish users’ responses.

Moreover, KT agreed to supply its private wireless network technology to set up an enterprise network for Turk Telekom by 2023. The private network infrastructure is expected to help enterprise or government clients enjoy wireless networks with faster speeds, lower latency and enhanced security.

Commenting on the partnership, Ümit Önal, CEO of Türk Telekom, said: “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. 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.”

Kyungrim Yoon, Head of Digital Transformation Division of Korea Telecom Group, added: “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. In the future, we will do our best to achieve successful results through active cooperation based on the ‘strategic partnership’ between the two countries.”