The signing ceremony is held through the online form.
Accordingly, the two parties promote close cooperation in developing online music services in Vietnam.
As a result, VTVcab and KT will cooperate to research the Vietnamese music market, establish a business model of online music services and develop initial platforms. In the next phase, the two sides will cooperate to develop platforms such as Internet Protocol Television (IPTV) and OTT; development of 5G network telecommunications services, optical broadband and cloud gaming.
Speaking at the event, Mr. Bui Huy Nam - Managing Director of VTVcab said that in the context of the Vietnam-Korea relationship, the two countries are achieving outstanding imprints in the fields of information technology and telecommunications. Cooperation between VTVcab and KT is an important step that helps strengthen the multifaceted cooperation relationship between business communities in the two countries.
"VTVcab and KT Group are pioneers in television and telecommunications industry in Vietnam and Korea. By establishing this cooperation, with their own strengths in technology, technical infrastructure, content, services, markets, the two sides will promote each other's advantage for the common growth. This event will be the beginning of a good cooperation between VTVcab and KT Group, further consolidating the friendship between Vietnam and South Korea," VTVcab's CEO emphasized.
From South Korea, Mr. Moon Seong Wook - Senior Vice President, Head of the Global Business Division KT Group said: "At the time KT Group moved the digital content business to more platforms, the signing of this cooperation agreement shows recognition of KT Group's media platform capacity and content in the global market. VTVcab inroad in this field is a timely decision. We will ensure the stable success of cooperation through the transfer of experience and technology to our partners."
Known as South Korea's largest telecommunications conglomerate, KT Group has commercialized 5G networks. In addition to this industry, KT now owns Korea's leading music platform and application, which produces and distributes music content and provides to more than 2.5 million users. Through the cooperation with KT, VTVcab will develop an online music service in Vietnam, satisfying users' musical tastes through digital platforms.
