SK Telecom (NYSE:SKM) announced today that it has signed a Memorandum of Understanding (MOU) with SBS, a Korean television channel operated by Seoul Broadcasting System, for joint development of innovative media business.

With today’s MOU signing, SK Telecom has entered into MOUs with the top three terrestrial TV broadcasting stations in Korea, namely KBS, MBC and SBS.

SK Telecom will work with each partner to develop diverse new media solutions and business models based on 5G. They will jointly develop 5G-based 4K (UHD) live broadcasting system; conduct trial application of the system for broadcasting of sports games and other events; create 5G-based innovative content; and explore possibilities in digital advertisement, AR and hologram.

These MOUs follow SK Telecom’s January agreement with Sinclair Broadcast Group, one of the largest TV broadcasting companies in the U.S., to establish a joint venture company to lead the next-generation broadcasting solutions market in the U.S.

“Through MOUs with diverse broadcasting companies, SK Telecom will create new business opportunities in the media solutions and content markets by leveraging its strength in media-related technologies,” said Kim Hyuk, Vice President and Head of 5GX Media Business Group.