KT Corp, the largest telecommunications company in South Korea, has partnered with albis-elcon, a network equipment and solutions provider based in Germany to bring next-generation 5G wireless technology to Europe and the rest of the world. A memorandum of understanding (MoU) was signed by senior executives from both companies in the German headquarters of alibis-elcon located in Hartmannsdorf.
Kim Hyung-Joon, KT Corp's executive vice president, remarked: "This great partnership between KT and albis-elcon will provide a major bridgehead for our advances in the European and the global markets. We will step-up efforts to expand overseas with our GiGA technology as well as 5G and our latest technologies, ICT-based platforms and solutions."
Visit Innovation Enterprise's DATAx Shanghai, September 5-6, Shanghai
KT Corp is working on three key technologies within the 5G area; GiGA Wire, GiGA WiFi and GiGA LTE. KT Corp is particularly interested in introducing GiGA Wire to many European countries as it offers high-speed internet without the need for fiber-optic cables. This means the pre-existent copper wiring a lot of the aging buildings currently possess across Europe will suffice, hence saving money on infrastructure costs.
As per the agreement the two companies signed, albis-elcon will be able to disseminate this technology to its 13 million network systems installed in 40 countries. albis-elcon have an established range of products which use both copper and fiber optics for internet access, making this synergetic partnership potentially highly beneficial to both parties.
"New products and new solutions require innovative ideas, solid technologies and detailed implementation to guarantee first-class user experiences," commented Werner Neubauer, the CEO of albis-elcon. "KT's outstanding expertise will enable us to actively drive the development of future networks, including the creation of new business models and operational excellence for our customers."