SK Telecom

Telecommunications
NYSE:SKM
South Korea

"SK Telecom has signed multiple partnerships in Iran, diversifying its revenue stream into the emerging Middle Eastern country. The mobile carrier said Tuesday it clinched network infrastructure contracts with the country's state-run and private organizations ― including the Ministry of Energy, the National Iranian Gas Company (NIGC) and local energy and technology company ARSH Holdings. Under the contracts, SK Telecom will export its smart management systems based on the Internet of Things (IoT), the company said in a statement. The deals come on the sidelines of President Park Geun-hye's three-day visit to Tehran, which started Sunday. SK Telecom CEO Jang Dong-hyun was included in her largest-ever business delegation. Jang and his Iranian counterparts agreed to install SK Telecom's LoRa-based smart energy management infrastructure in the country's major buildings and residential areas. LoRa is an IoT standard technology co-developed by some 200 global information and communications technology companies including Cisco, IBM and SK Telecom. SK Telecom said the Iranian partnerships will boost its market penetration into other emerging countries. The company plans to focus on exporting its IoT-based network infrastructure and services… "We will play a significant role in the country's economic growth by continuing to offer our industry-leading IoT network systems," Jang said in the statement. "SK Telecom will keep providing up-to-date LoRa-based technologies and services for our partnering organizations." (The Korea Times, “SK Telecom solidifies network business partnerships in Iran,” 5/3/2016)