As the global economy continues to slow down amidst fallout from the coronavirus pandemic, organizations are looking towards governments who can stimulate growth potential and create job opportunities once COVID-19 is truly in remission.
- The South Korean government led by President Moon Jae-in is one such administration that is setting its sights firmly on a post-pandemic recovery, propped up by a new economic stimulus plan that will draw upon artificial intelligence (AI) and 5G wireless communications technology.
- Fresh off last months national elections victory, President Moon unveiled his plan to boost innovation and jobs, which he compared to the famed New Deal that US president Franklin D. Roosevelt launched to help the US recover from the Great Depression economic slump in the 1930s.
- Unlike the original New Deal, economic observers believe that Moons plan is designed to support newer, online-centric businesses without oversized government spending.
- President Moon believed AI advancements will not only impact industrial sectors, but also have public health benefits for his aging population. This was ably proven as COVID-19 broke out, and AI developments in South Koreas molecular biotech field led to the country having one of the best early responses to the viral pandemic.
Samsung and KT Corporation Expands 5G Networks
- Samsung Electronics announced that it has signed a commercial agreement with Spark New Zealand to take part in building Sparks 5G network in 2020.
Spark, New Zealands largest mobile carrier, has been working with Samsung on network innovation, starting with 5G trials in 2019.
- These trials used Samsungs 5G end-to-end solutions to test and verify the potential of next generation network technology at Spark Lab. The trials also demonstrated to Spark the high performance of Samsungs 5G technology along with the possibilities it could bring through higher speeds and lower latency, leading to the commercial agreement.
- Samsung Networks will provide Spark with its latest 5G New Radio (NR) solutions, including Massive MIMO radios that have a slim design profile, are lightweight for ease of installation, and provide space savings on tower tops. This provides carriers with more flexible, scalable 5G solutions that are simple and cost-effective to deploy, and accelerate commercial 5G availability.
- KT Corporation, South Koreas largest telecommunications company, announced that it has signed a memorandum of understanding(MOU) with Taiwans Far EasTone Telecommunications Co. Ltd. (FET) for collaboration in 5G services and digital content development.
- It was the first remote contract signing ceremony via Engage, demonstrating the use of KT Super VR, a virtual reality device, to expand into diverse services, including remote meetings among global business partners.
- KT Corp. announced the signing of a US$19 million contract with Thailands 3BB TV Co. Ltd. to provide commercial IPTV (Internet Protocol TV) service to the Southeast Asian kingdom.
- 3BB TV, an affiliate of Jasmine Group will combine its ultra-speed Triple T Broadband internet connection with the IPTV service. With the combination, the Jasmine Group expects to become Thailands No. 1 telecom operator.