KT chairman urges 5G innovation with global leaders

KT Corporation (KRX: 030200; NYSE: KT), South Korea’s largest telecommunications company, is calling on world leaders to together pioneer the future of next-generation wireless connectivity after the company launched the world’s first nationwide 5G commercial network.

KT Chairman and CEO Hwang Chang-Gyu delivered three key proposals to U.S. Secretary of State Mike Pompeo, Dutch Prime Minister Mark Rutte and other global leaders, to spearhead 5G innovations around the world. Chairman Hwang addressed these leaders at the Global Entrepreneurship Summit (GES) 2019 held in The Hague, Netherlands this week with the theme “The Future Now."

In a speech titled “Industries of the Future, 5G,” Chairman Hwang envisioned a future in which every corner of economy and society benefits from a new mobile world, with different industries cooperating to use 5G. Policymakers should help facilitate corporate investment in 5G and work closely with businesses to develop a 5G ecosystem for digital transformation, he added.

“5G can create a great synergy if the Netherlands’ world-class industrial technologies, such as smart farms and smart cities, are combined with Korea’s advanced mobile network technologies,” Chairman Hwang said during a session on 5G at the GES 2019. “Korea is the perfect test-bed for 5G development, and I invite you all to visit Korea and KT anytime to experience how 5G is really changing our world and lives.”

Dubbed “Mr. 5G,” Chairman Hwang was invited as a distinguished speaker for the GES 2019. The event was co-hosted by the U.S. Department of State and the Kingdom of the Netherlands from June 3 to 5, covering five key sectors – Connectivity, Energy, Health, Agriculture/Food and Water – hosting 56 sessions addressing global issues.

The GES, started by the United States in 2010, is a global event connecting entrepreneurs, startups, venture capitalists, NGOs and public leaders to find and initiate innovative solutions for various global challenges. U.S. Secretary of State Pompeo and Prime Minister Rutte of the Netherlands were joined by 2,000 participants from around the world for this year’s GES at The Hague.

South Korea became the first country to bring 5G into reality on April 3, and KT is the number one 5G network operator. Chairman Hwang laid out the company’s plans for the world’s first commercial 5G network at the MWC in 2015 and again in 2017.

KT surprised the world with the first 5G trial services at the 2018 PyeongChang Winter Olympic Games, and the company is today leading the global race for 5G innovations, outpacing rivals from China, Japan and Vietnam to Switzerland, the UAE and the U.S.

Next-generation 5G technology is up to 20 times faster than the current LTE or 4G networks, offering extremely low latency and connecting more devices at once. The South Korean government has pledged to support the completion of the full nationwide 5G network by 2022 and raise more than 30 trillion won to invest in the world's best 5G ecosystem.

KT, formerly known as Korea Telecom, is the first provider in the world to offer unlimited data plans without a speed cap and a time period for its next-generation network services, allowing customers to get the best of 5G’s super-fast and ultra-low latency connectivity. KT’s truly unlimited data plan is vital for 5G users to enjoy immersive media such as cloud-based streaming games, AR/VR and other key services such as autonomous driving.

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