"VR Contract Ceremony" KT Partners with Taiwanese Telecom FET for Content Collaboration

[Asia Economy Reporter Koo Chae-eun] KT announced on the 8th that it signed a Memorandum of Understanding (MOU) on the 7th with Taiwanese telecom company FET for joint development of 5G services and content partnership business.

Considering the difficulty of face-to-face meetings due to the impact of the novel coronavirus disease (COVID-19), the signing ceremony utilized ‘Engage,’ a remote meeting platform provided by KT SuperVR. Park Hyunjin, Executive Director of KT Customer Strategy Headquarters in Seoul, and TY Ying, Executive Director of FET Customer Strategy Headquarters in Taipei, met in a virtual space to conduct the signing ceremony.

FET, as a leading 5G operator in Taiwan, is pursuing a strategic alliance with KT, the world’s first company to commercialize 5G, to strengthen its position. KT plans to reinforce its status as a global 5G leader through the entry of 5G video communication services into Taiwan, early commercialization of 5G roaming, and export of original video content and webtoons.

Executive Director Park Hyunjin said, "We will promote mutual growth and new revenue generation by combining KT’s 5G service operation know-how with FET’s customer base," adding, "We plan to expand the scope of cooperation across 5G through close consultations with FET in the future." Executive Director TY Ying stated, “South Korea is the world’s first country to commercialize 5G and a global 5G leader, and KT, as Korea’s representative telecom company, possesses remarkable service development and operation capabilities in the 5G field,” and added, “FET aims to upgrade about 20% of existing LTE subscribers to 5G in the first year of commercialization through extensive 5G cooperation with KT.”