SK Telecom (SKT) has on Tuesday announced that it had signed a memorandum of understanding (MOU) with Singapore-based communications technology group Singtel, to jointly grow the metaverse business in countries where the group operates in, starting with Singapore.

Both parties said in a statement, as one of four strategic partners globally and the only telco in Asia Pacific (APAC), Singtel will share its 5G and other technology expertise across the Asian Pacific region, and SKT will provide its insights from the operation of SKT’s metaverse platform, ifland, in Korea, as well as metaverse-related technologies as part of the MOU.

This involves the development of virtual versions of places in Singapore, customised avatars of locals and organisation of exclusive events for Singtel customers to be jointly promoted in market to consumers and enterprises.

One such event is slated to take place in Jan 2023 and more details will be shared next month.

“This partnership will help showcase the Singtel network’s ultra-low latency, high speed and stable connectivity which is critical to creating an optimal immersive experience in the metaverse,” said Anna Yip, Chief Executive Officer, Consumer, Singtel.

“Together with SKT, we will help drive innovation and unlock new digital use cases in ifland, creating growth opportunities for enterprises and enriching experiences for consumers,

“We’re excited to kick this off in Singapore and in time, expand across the region,” she added.

The two companies will also explore collaborative opportunities in areas such as quantum cryptography, or advanced data encryption, to build safer networks against emerging threats.

“Through cooperation with Singtel, we will be expanding our metaverse business into the Asian Pacific region,” said Ha Min-Yong, Chief Development Officer of SKT.

“We will work closely with Singtel to create success stories for our metaverse service in the global markets,” he added.

SKT has been leading the growth of the mobile industry in South Korea since 1984. The firm is currently taking customer experience to new heights by extending beyond connectivity.

By placing artificial intelligence (AI) at the core of its business, SKT is rapidly transforming into an AI company.

It is focusing on driving innovations in areas of telecommunications, media, AI, metaverse, cloud and connected intelligence to deliver greater value for both individuals and enterprises.

Singtel is Asia’s leading communications technology group, providing a portfolio of services from next-generation communication, 5G and technology services to infotainment to both consumers and businesses.

The group has presence in Asia, Australia and Africa and reaches over 770 million mobile customers in 21 countries. Its infrastructure and technology services for businesses span 21 countries, with more than 428 direct points of presence in 362 cities.

For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber security capabilities.

The firm is dedicated to continuous innovation, harnessing technology to create new and exciting customer experiences and shape a more sustainable, digital future.

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