HFR, Inc. Signs Agreement With KT to Collaborate on Private 5G Business
SEOUL, South Korea, August 7, 2023 (Newswire.com) - HFR, Inc. (KOSDAQ 230240), the leading ICT solutions provider in Korea, today announced that it will collaborate with KT Corporation (KRX: 030200; NYSE: KT), Korea's largest telecommunications service provider, to advance technology development, expand private 5G (P5G) use cases, and support digital transformation (DX) for small to medium-sized enterprises, local governments and public enterprises. The two companies signed a memorandum of understanding (MOU) at KT's Songpa building in Seoul, Korea.
This agreement combines the strength of these two companies: HFR, a leading private 5G innovator which offers my5G™, an end-to-end solution for deploying private 5G networks (components include a Service Management Platform, Unified Network Management System, vCore, vCU/DU, Fronthaul Mux, RUs and CPEs), and KT, Korea's largest mobile operator in both public and enterprise markets, with extensive experience building and operating private 5G networks.
Through this collaboration, the two companies plan to introduce P5G with high reliability and increased competitiveness to greatly enhance the P5G ecosystem. In addition, enterprises that have introduced P5G, or are considering the deployment of P5G will benefit from enabling an accelerated path to digital transformation.
"HFR will contribute to the development of P5G and society by providing economical solutions for small and medium-sized enterprises while delivering tailored solutions that ensure security and smart society applications to public enterprises, including local governments," stated Jung Hae-kwan, Head of HFR's Private Mobility Group.
"In the private 5G area where the initial market is being formed, the expansion and activation of the ecosystem are directly related to the interests of customers," said Min Hye-byung, SVP of KT Enterprise Service DX Business Unit. "KT will continue to develop competitive private 5G services through this cooperation between our two companies."
HFR's my5G™ solution is a pre-integrated private 5G system. The 3GPP-compliant packaged solution includes key components such as vCore, vCU/DU, indoor and outdoor radio units, plus integrated CPE devices with a complete service & network management platform. HFR is deploying my5G in critical applications such as IIOT in a nuclear power generation site in Korea, railway solutions in Japan, as well as across several factory and industrial complexes.
About HFR, Inc.:
HFR, Inc. (KOSDAQ 230240) is the leading ICT equipment vendor in Korea, offering a full range of optical transport, broadband access with WiFi products, and Private 5G. For the last 23 years, HFR has provided innovative products to the world's largest mobile operators. HFR has established strong partnerships with Korean mobile operators resulting in leading-edge technology, field-proven deployments, and expansion into the global market. For more information, visit www.hfrnet.com.
About KT Corporation (KRX: 030200; NYSE: KT):
KT Corporation is the largest integrated telecom and digital platform service provider based in South Korea. Principal services include mobile, Broadband, IPTV, B2B communications, fixed-line telephony. The company has industry-leading market presence in Broadband, media services, and fixed-line telephony by maintaining the No.1 market share position. Also, the company is the No.1 player in B2B communications and offers a wide range of digital transformation services (IDC, Cloud, AI, etc.).
Source: HFR, Inc.