When leaders in their field get together, it can spark something special. That was the case this week when a Korea-Finland Startup summit saw Nokia and Korea´s radio frequency company KMW sign a Memorandum of Understanding (MoU) covering 5G technology and global business cooperation.
Nokia and KMW have been jointly developing Massive MIMO technology since 2016. A crucial piece of 5G infrastructure, Massive MIMO increases network capacity and coverage while reducing interference by raising the effectiveness of transmissions.
The event and signing took place against the backdrop of a Finland-Korea summit and a state visit by the President of the Republic of Korea, Moon Jae-in to Finland to meet the President of the Republic of Finland, Sauli Niinistö. At the summit both presidents talked about advanced telecoms and the benefits of cooperation. 5G communication solutions jointly developed between the Finnish Nokia and the Korean KMW were used as an example.
The joint Nokia-KMW development is a prime example of how these two advanced companies and countries can get together to drive 5G forward. As well as being a leader in 5G deployment across the globe, particularly in North America, Asia Pacific and Europe, Nokia supplies the 5G telecommunications equipment to all three mobile carriers in Korea: SK Telecom, KT and LG U+.
Long term experience of advanced comms leading to 5G
Nokia has also aided the rapid deployment of LTE networks in South Korea, developing LTE technologies together with the Korean operators and promoted Korean cases to global operators. We have worked closely with many companies in Korea to help create new business opportunities worldwide.
Kevin Ahn, Head of Nokia Korea, said: “Nokia and KMW have been successfully working for the deployment of 5G infrastructure in Korea. Together, we have contributed to the world’s first commercialization of 5G and will continue to cooperate for the development of the 5G ecosystem. Nokia expects this MoU to grow into a more comprehensive partnership through mutual trust.”
Nokia also took the opportunity of the Startup summit to show some of its 5G innovation with several demos including 5G connected Smart cities and Industry 4.0 for operational efficiency.
Risto Siilasmaa, Chairman of the Nokia Board, summed up the importance of the event to both companies and both countries in his speech: “5G will not only power up the Korean economy, but also create new business opportunities worldwide. For Nokia this means working with leading Korean universities and companies, in particular our trusted partner KMW. With our unique partnership with KMW I´m proud to say that all of Nokia 5G radio equipment delivered to KT, SKT, and LGU+ are “Made in Korea”. I´m honored to have KMW chairman Mr. Kim here with us today. Thank you for joining us in Finland on this memorable day.”
The Korea-Finland Startup summit was hosted by Korea Startup Forum-Korea Chamber of Commerce and Industry as well as Finland Chamber of Commerce. The summit brought together more than 200 Entrepreneurs, Startups and Government People from Korea and Finland, creating a positive and active range of engagements with excellent cooperation between participants.
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