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STC Signs Memorandum of Understanding for Collaboration with SK telecom
Saudi News Mar 11, 2015

telecom services provider in South Korea intended to strengthen the ties and advance the collaboration between the two companies.

“The agreement will facilitate the collaboration between firms in both Saudi Arabia and South Korea to pioneer innovative technologies and revitalize the economies of their countries,” Al Sugair, STC’s Managing Director, explained. He added that the agreement will incorporate best practices to accelerate the development of technological solutions which increase workflow effectiveness and efficiency for individuals, businesses, and governments.

Under the MoU, the two companies agree to collaborate on the development of the innovation capabilities in Saudi Arabia with particular focus on digital products & services in key verticals such as healthcare & education which will encourage corporations to cooperate with startups on a wide range of projects. Under the terms of the MoU, the two companies agree to share technological and marketing expertise in developing Healthcare, Education digital products & services as well other innovative products & services ranging from location intelligence services to e-payments and mobile payments, as well as the Internet of Things. The agreement was signed at Mobile World Congress, Barcelona and also ratified in a ceremony in Riyadh, was attended by senior executives from both sides.