SK Telecom to invest $9bn in emerging tech

By:
James Pearce
Published on:

Korean operator plans to invest $5bn in 5G, while it will spend another $4bn on a new ICT platform

SK Telecom has unveiled plans to invest $9 billion in emerging technology over the next five years.

The South Korean operators plans to invest in developing artificial intelligence, the Internet of Things, autonomous vehicles and 5G, according to new CEO Park Jeong-ho.

Speaking to BusinessKorea, Park said the company will spend around $5 billion to boost its 5G network over the next three years, a similar amount to what it spent on 4G from 2012.

He also revealed plans to invest $4.17 billion to build a new information and communications technology system that will offer a platform to support new technologies. The ICT system will be used in its connected car and ioT portfolio, for media and content, and also for big data and storage systems.

The system will be established through a number of partnerships, the CEO, who took over earlier this year, explained. He outlined a number of recent partnerships, including agreements with Samsung and Intel.

According to Yonhap news agency, the Korean operator used this year’s Consumer Electronics Shows in Las Vegas to discuss collaboration opportunities with the two vendors, as well as Nvidia, around IoT initiatives.

Park said, “SK Telecom should establish a new ICT ecosystem through openness and collaboration, not by itself.”