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JOINT VENTURE

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The South Korean wireless telecommunications operator, SK Telecom, and Germany’s telecommunications leader, Deutsche Telekom, recently signed an agreement to set up a joint venture to innovate 5G technology. This venture will incorporate advanced 5G building expertise and leverage the growth in the global demand for 5G repeaters. Both companies said their partnership will help complete the development of an advanced 5G/LTE dual-mode repeater that will give them an advantage in capturing a global market estimated, according to studies cited by the companies, to exceed $10 billion over the next three years. The JV is headquartered in Germany, and as a result, the work will begin in the European market. As stated in the announcement, each operator will manage 50% of the JV and will appoint an appropriate representative to manage the organization. Tim Höttges, CEO of Deutsche Telekom commented: “Together with SKT we are able to develop new…