- NOW Corporation, together with its telecom arm NOW Telecom Company, Inc., reached a historic milestone as it entered into a strategic partnership with Korea’s SK Telecom for NOW’s 5G play.
- The partnership shall leverage on SK Telecom’s expertise to develop 5G technologies and build a 5G network in the Philippines.
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.
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.
“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.”
“With SK Telecom’s global leadership in 5G, NOW can leapfrog competition and hit the mobile gigabit ground running with almost zero trial and error. Imagine the kind of compelling customer experience enjoyed by Koreans from 5G to arrive on our shores by a flick of a finger! That’s what this collaboration is all about,” said Mel V. Velarde.
“This strategic cooperation with SK Telecom is a historic milestone for NOW. SK Telecom brings its wealth of experience in 5G to provide unparalleled experience to Filipino data users. SK Telecom’s rich experience in deployment also means a robust, scalable, and cost-effective network for NOW. NOW is confident that the combination of cutting-edge and low-cost technology and innovative products and services will make NOW a true game-changer in the Philippine telco landscape,” said Dr. Thomas G. Aquino.