STC's stand at GITEX 2018 in Dubai.
STC and KT (Korea Telecom) have announced the signing of a Memorandum of Understanding (MoU) to collaborate on new technology areas.
The announcement came at the Mobile World Congress (El Congreso Mundial de Móviles) in Barcelona.
KT will cooperate with STC in various business areas, such as fixed/mobile communication infrastructure enhancement, smart cities, smart media, R&D and so on.
Both Groups will generate and maximise the synergy effect by combining KT’s state-of-the-art ICT technologies - such as its 5G network, GiGA Wire High speed Internet solution utilizing copper cables), GiGAeyes (intelligent security solution) and VR - and STC’s business expertise and strong influence in theMENA region.
One area of special importance is GiGA Wire, KT’s innovative broadband solution which offers Internet speeds of up to 1Gbps with a copper cable and without deploying a separate optic cable. It is regarded as an ideal solution to enhance network speed without damaging legacy buildings - thus KT and STC will closely work together to develop further GiGAWire business.
KT CEO Dr Chang-Gyu Hwang said; "We are paving the way to lead the Fourth Industrial Revolution utilising both groups’ core competencies by establishing mutual cooperation with STC Group. KT will not only creating new markets and enhancing customer satisfaction, but also leading Korea’s Fourth Industrial Revolution."
Said STC Group CEO Eng. Nasser Al Nasser said "It will be a great opportunity for STC Group to collaborate and introduce KT’s field proven solutions to Saudi Arabia. I am hoping our successful cooperation models could expand to STC’s foreign subsidiaries and other MENA countries."