April 18, 2024

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The head of Korean telecom company KT said on Feb. 26 that 5G will open up new business opportunities by providing a platform for innovative services and solutions.

CEO Hwang Chang-kyu underscored the potential of the next-generation mobile technology in business-to-business areas, in hopes of cashing in on the network in the mid to long term. 

“5G is not just about network. It‘s a platform,” the KT CEO said in a meeting with reporters on the sidelines of MWC Barcelona, which showcases the latest mobile technologies and devices by market players around the globe.

Hwang made the remarks as KT was set to roll out its 5G service for the commercial market next month, in time for the launch of 5G smartphones by Samsung Electronics and LG Electronics.

While 5G smartphones that can support virtual and augmented reality are only a part of innovation that can come with the next generation connectivity network, Hwang said 5G’s ultrafast speed and low latency will change whole industries and innovate existing business models.

Hwang said his company’s ultimate goal is to provide a “total solutions” for smart enterprises, based on 5G-enabled platforms, including data-driven business consulting services.

By Ram Garikipati and newswires (ram@heraldcorp.com)