Seoul and Tokyo, May 2, 2024 – Rakuten Mobile, Inc., Rakuten Symphony, Inc., and South Korean mobile network operator STAGE X Co., Ltd. announced today the signing of a Memorandum of Understanding. The MoU aims to establish a comprehensive framework for strategic collaboration in technology and business exchange between Rakuten Mobile, Rakuten Symphony and Stage X, South Korea’s new greenfield mobile network operator preparing to provide 5G services in the 28 GHz spectrum.
Bringing together the newest mobile network operators in Japan and Korea, the MoU focuses on technological collaboration and business synergies between the three companies. The agreement includes the sharing of industry knowledge and expertise from Rakuten Mobile, as well as the provision of industry leading telecom solutions from Rakuten Symphony. Discussions will also encompass various aspects of Stage X's upcoming projects ranging from business operations to technical areas. In addition, the three companies will pursue cooperation considering expansion to mid-band frequency and the development of a 6G-based national network from a long-term perspective.
Sangwon Seo, CEO of Stage X, commented: "Rakuten Mobile and Stage X are the latest mobile network operators representing their respective countries, and together with Rakuten Symphony we wish to continue broad cooperation. Rakuten Mobile built and deployed the world’s first fully virtualized, cloud-native mobile network*1 with a modern infrastructure that ensures stable telecommunication services as the newest mobile network operator in Japan. As Stage X builds out its infrastructure to provide 5G services in the 28 GHz spectrum, we look forward to working with Rakuten and learning from their experience across a wide range of areas."
Sharad Sriwastawa, Co-CEO of Rakuten Mobile and President of Rakuten Symphony, commented: “We are excited about collaborating with South Korea’s newest mobile network operator. I believe we share significant synergies, and this MoU will see us leveraging our expertise to create industry-changing opportunities for Stage X.”
Stage X is a consortium company that is gearing up to introduce differentiated Real 5G telecommunication services in the 28 GHz spectrum, offering consumers high-speed, ultra-low latency and ultra-connectivity features. Leading companies in each industry, including Shinhan Securities, a financial investor, are participating in the Stage X consortium. Stage Five, a former Kakao affiliate and parent company of Stage X, has led the innovation of MVNO services in Korea.
Notes
*1 For a large scale commercial mobile network (as of October 1, 2019). Research: Stella Associa
About Stage X
Stage X is meticulously preparing for telecommunication infrastructure readiness, focusing on security and system stability, as a new entrant in the telecommunications service industry. Stage X is gearing up to introduce differentiated Real 5G telecommunication services in the 28GHz spectrum, offering consumers high-speed, ultra-low latency and ultra-connectivity features.
About Rakuten Mobile
Rakuten Mobile, Inc. is a Rakuten Group company responsible for mobile communications, centered on its mobile network operator (MNO) business. Through continuous innovation and the deployment of advanced technology, Rakuten Mobile aims to redefine expectations in the mobile communications industry in order to provide appealing and convenient services for diverse customer needs.
About Rakuten Symphony
Rakuten Symphony is reimagining telecom, changing supply chain norms and disrupting outmoded thinking that threatens the industry’s pursuit of rapid innovation and growth. Based on proven modern infrastructure practices, its open interface platforms make it possible to launch and operate advanced mobile services in a fraction of the time and cost of conventional approaches, with no compromise to network quality or security. Rakuten Symphony has operations in Japan, the United States, Singapore, India, South Korea, Europe, and the Middle East Africa region. For more information, visit: https://symphony.rakuten.com
*Product names and service names published in this press release are generally trademarks or registered trademarks of their respective companies. Trademarks such as TM and ® may be omitted when trademarks are listed in this press release.
