[THE INVESTOR] SK Telecom said on Jan. 8 it will jointly develop a new broadcasting platform with Sinclair Broadcast Group, a publicly traded American telecom conglomerate.
The two firms signed an agreement at the Consumer Electronics Show 2019 in Las Vegas to establish a joint venture for developing solutions and equipment related to ATSC 3.0., the next digital broadcasting standard.
“We are laying the foundation to showcase Korea’s media technology to US viewers. If we succeed in the American market, we believe we can create new business opportunities in other overseas markets,” the firm said.
SKT and SBG will invest 18.5 billion won (US$16.50 million) each to establish a JV within the first quarter. The entity aims to develop related solutions and equipment and commercialize them in the US.
With new services based on ATSC 3.0., viewers will be provided personalized advertisements, ground-wave broadcasts and map updates in vehicles.
SKT predicted that the ATSC 3.0 market will reach 20 trillion won over the next 10 years as more than 1,000 US broadcasting stations will introduce related solutions and equipment.
“Through the close partnership with SGB, the JV will have an upper hand in the US next-generation broadcasting solutions market. We will continue our cooperation with cutting technologies in the 5G era,” said SKT CEO Park Jung-ho.
By Lee So-jeong (firstname.lastname@example.org)