SK Square will also launch One Store app market in Europe in partnership with the German telecom operator.
SK Telecom and SK Square officials, including SK Square vice chairman Park Jeong-ho and SK Telecom president Yoo Young-sang, met with Deutsche Telekom chairman Tim Höttges and vice chairmanperson Claudia Nematt and other key executives to discuss ICT business cooperation at Deutsche Telekom Headquarters in Bonn.
The two sides discussed cooperation in the global metaverse business, cybersecurity, One Store’s entry into Europe, and environmental, social and governance (ESG).
SK Telecom’s metaverse platform Ifland will make a foray into Europe. Starting with Germany within 2022, the Korean mobile carrier will conduct market tests for Ifland in each region of Europe. Together with Deutsche Telekom, SK Telecom plans to develop virtual spaces modeled after specific German cities, exclusive avatars and costumes and provide them to Deutsche Telekom customers for joint marketing.
The two sides also discussed the establishment of a joint venture that will serve as an outpost for the European metaverse business in the mid- to long-term. They are planning to cooperate with telecommunication operators in various countries in Europe for the metaverse business through the joint venture firm.
The two sides are also promoting the launch of a European version of One Store. SK Square’s app market One Store and Deutsche Telekom plan to continue discussing specific business directions, such as establishing a joint venture firm and making equity investment in the firm.
One Store is positioned as an alternative to Google Play Store and Apple App Store in the Korean app market.
In addition, SK Shieldus, a subsidiary of SK Square, and Deutsche Telekom Security, a security business subsidiary of Deutsche Telekom, will sign a letter of intent (LOI) to forge a strategic partnership.
SK Telecom and Deutsche Telekom have maintained a cooperative relationship since their CEOs met at the Mobile World Congress (MWC) in 2018, and then Tim Höttges visited Korea in October of that year.
“Deutsche Telecom is an important partner for SK Telecom in promoting our three big technologies and five major businesses,” said Yoo Young-sang, president of SK Telecom.