Samsung Electronics and SK Telecom, leaders in South Korea’s smartphone manufacturing and mobile network industries, have joined hands to develop new information and communications technology.

At a signing ceremony for a memorandum of understanding Thursday, Kim Young-ky, president of Samsung’s network business and Lee Hyung-hee, president of SKT’s mobile network operations agreed on the partnership.

The collaboration will be focused on developing technologies in five crucial sectors in the era of connected things ― the 5G network and mobile devices, wearable technology, the Internet of Things, mobile payments and Korea’s emergency networks.

“SKT expects the agreement between the two counterparts to help the entire domestic ICT industry to take a leap forward,” said the president of SKT’s mobile network operations, in his remarks at the signing ceremony, which was held at one of Samsung’s research and development centers, called the R3, in Suwon, Gyeonggi Province.

Samsung Electronics’ mobile business chief Shin Jong-kyun and SKT’s chief executive Jang Dong-hyun also were present at the event.

The two companies, which are powerhouses in their respective industries, have long maintained an amicable business relationship.

Samsung collaborated with the wireless carrier when the two rolled out Samsung’s first standalone smart watch, the Gear S, and the mobile carrier’s service plans for the smart watch.

“The two companies will continue leading innovations in the five sectors including 5G (networks) and wearable technology and providing the best services through synergy effects created through the collaboration,” Samsung president Kim Young-ky said.

By Kim Young-won (wone0102@heraldcorp.com)