UET United Electronic Technology AG announces the signing of a cooperation agreement between South Korean 'KT Corporation' and albis-elcon (Business Area SYSTEMS)

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DGAP-News: UET United Electronic Technology AG / Key word(s): Alliance/Miscellaneous

12.07.2018 / 08:43
The issuer is solely responsible for the content of this announcement.

  • Cooperation for Wireline, Wi-Fi and LTE 5G GIGA Technologies
  • Business and Research and Development collaboration including future business models

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces that its Business Area SYSTEMS represented by albis-elcon the Germany-based network equipment and solution company has signed a Memorandum of Understanding (MoU) with South Korea's leading telecom company 'KT Corporation' to work together in potential business opportunities and collaboration in relation to GiGA technologies and associated wire-line and wireless technology platforms.

The MoU was signed to reinforce the collaboration between the two parties on GiGA Wire and other GiGA technologies (GiGA Wi-Fi, GiGA LTE, etc.) business expansion in the countries where albis-elcon has been conducting its business activities globally.

The two parties also agreed to pursue a Research and Development (R&D) collaboration for the future improvement of the aforementioned technologies including accommodating market requirements and technology enhancements. Furthermore, KT Corporation and albis-elcon will collaborate on the development of 5G network solutions and various platform businesses in the area of energy management, security and IPTV supported artificial intelligence solutions.

'We are very pleased to collaborate with albis-elcon, which is expanding its business all over the world based on Europe, and KT has established another bridgehead for global market penetration,' said Hyung-Joon Kim, Executive Vice President, Head of Global Business Unit at KT Corporation.

'New products and new solutions require innovative ideas, solid technologies and detailed implementation to guarantee first class user experiences. KT's outstanding expertise will enable us to actively drive the development of future networks including the creation of new business models and operational excellence for our customers', said Werner Neubauer, Chief Executive Officer of albis-elcon.

About KT
KT Corporation, Korea's leading telecommunication service provider, offers mobile services and fixed-line telephone services, including local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol telephone services, as well as interconnection services.

UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn

Sebastian Schubert
Investor Relations
Tel: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com

12.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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