NOW Corporation (PSE: NOW) together with its telecom affiliate NOW Telecom have entered into a strategic partnership with Korean telco giant SK Telecom for NOW’s 5G rollout.
SK Telecom Co., Ltd (NYSE: SKM) is Korea’s largest wireless carrier. In April 2019, SK Telecom has launched the world’s first commercial 5G service, taking the lead over other countries. SK Telecom has obtained the number one spot in terms of 5G subscribers in Korea, covering major cities nationwide.
The trilateral (NOW Corp – Now Telecom – SK Telecom) agreement includes critical areas of collaboration and development for 5G in the Philippines: Technical Roadmap Planning – Network Conceptualization and Design – 5G Core Network Training – Establishment of 5G stand-alone (SA) network commercial infrastructure – In-building Solutions and 5G B2B Service Development.
As a strategic partner, SK Telecom will also extend its new 5G based applications and solutions to provide enterprises and home broadband users in the Philippines with game-changing and unparalleled experience.
NOW Corporation’s telecom affiliate NOW Telecom Company, Inc., is a grantee of a 25-year congressional franchise during the 17th Congress to carry on the business of providing telecommunications services throughout the Philippines and other countries and territories, including outer space. It is likewise a grantee of an Authority to install, operate and maintain cellular mobile telephony system (“CMTS”) from the National Telecommunications Commission.
NOW Telecom is one of only four cellular mobile license holders apart from SMART, Globe Telecom, and Dito Telecommunity.
“SK Telecom is pleased to enter into a strategic partnership with NOW Corporation and NOW Telecom to deploy 5G network in the Philippines,” said Shim Sang-soo. “SK Telecom will work closely with NOW to achieve 5G network innovation to deliver greater value to NOW customers.”
The partnership signing took place in Manila, Philippines, on October 24, 2019. The agreement was signed by Shim Sang-soo, Vice President and Head of Infra Business Office of SK Telecom, Dr. Thomas G. Aquino, NOW Corp Chairman, and Mel V. Velarde, NOW Telecom Chairman.