SEOUL, Korea - June, 26, 2015 - Samsung Electronics Co., Ltd., announced today that it will partner with Korean telecommunications operator LG U+ to jointly develop 5G technology, in a move that will further strengthen both companies. The agreement will also enhance Korea's global leadership in 5G research and help drive the creation of standards for the next major phase of innovation in mobile telecommunications.
"This partnership will help us drive R&D, which in turn will power innovation in the global telecommunications industry. 5G networks will be based on the convergence of a whole host of incredible new technologies, from more advanced antenna systems to Network Functions Virtualization (NFV). Bringing together Samsung's cutting-edge technology and LG U+'s expertise and understanding of end-users preferences as well as application and service trends, will be a powerful combination," said DongSoo Park, Executive Vice President of R&D in Network Business at Samsung Electronics.
"Together we will be well-prepared for the 5G era. Through close collaboration and by leveraging LG U+'s extensive network management understanding and Samsung's technology leadership, we hope to lead the next generation of telecommunications technology, not only in Korea, but around the world," added Sun Tae Kim, Executive Vice President of LG U+'s Service and Development Division.
The Memorandum of Understanding (MOU) signing ceremony on June 25, which marks the formal start of the partnership, was attended by almost 100 senior staff from both companies. The event also featured an in-depth discussion of how the two companies will collaborate; as a result, both sides agreed to a shared ‘5G Readiness Target' for the year 2020.
The collaboration will focus on three areas that are of critical strategic importance to 5G's future: