SKT Teams Up with Alibaba to Chart the New ICT Era
Published2018.02.09 10:00Leading the Fourth Industrial Revolution and ICT Ecosystem Expansion while Strengthening Cooperation between Two Nations
SK Telecom (hereafter SKT) President Park Jung-ho and Jack Ma, Chairman of China's Alibaba Group, met to discuss the blueprint for the New ICT industry. The two companies exchanged opinions on next-generation information and communications technology industries such as AI and 5G and agreed to jointly explore future business opportunities in media and content.
Jack Ma, Chairman of Alibaba, who visited Korea for the PyeongChang Olympics as an official Olympic partner for cloud and e-commerce platforms of the International Olympic Committee, plans to review ICT business and future technology cooperation as a result of his meeting with SKT President Park Jung-ho. Given that both companies are leading enterprises in various ICT fields including telecommunications, media, content, and commerce in their respective countries, they expressed expectations that new value would be created if cooperation is promoted.
To this end, SKT and Alibaba Group decided to pursue executive-level meetings again. SKT stated, "Chairman Ma heard the ICT blueprint we have drawn and willingly responded to our invitation," and added, "SKT and Alibaba agreed to lead the expansion of the New ICT and Fourth Industrial Revolution ecosystem and serve as a bridge for cooperation between the two nations."
Alibaba Group operates businesses in e-commerce, media, entertainment, cloud computing, and online payment. Based on fiscal year 2016, the group's revenue is approximately 23 billion dollars (approximately 25 trillion won) and its current enterprise value is approximately 472 billion dollars (approximately 513 trillion won).
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