Rakuten and S.Korea's Stage X sign strategic cooperation deal

TOKYO, Japan — Rakuten Mobile and Rakuten Symphony have entered into a Memorandum of Understanding with South Korean mobile carrier Stage X, establishing a framework for future technological and business collaboration in South Korea.

The memorandum of understanding, announced on Friday, establishes a comprehensive framework for cooperation between the parties. 

This is in anticipation of Stage X offering 5G services utilizing the 28GHz band as a new entrant in the intensely competitive South Korean mobile market.

These include, but are not limited to, business operations and technical fields.

Furthermore, the three companies intend to explore long-term collaboration on expanding frequencies to the mid-band and building a nationwide network based on 6G technology.

"We are gratified to collaborate with Stage X, a recently established entity in the South Korean mobile carrier market," stated Sharad Sriwastawa, co-CEO of Rakuten Mobile and president of Rakuten Symphony. This collaboration will provide Stage X with an industry-changing opportunity, leveraging our accumulated knowledge."

Stage X, backed by a consortium of companies, including financial investment firm Shinhan Securities, aims to provide differentiated "Real 5G" communication services with high-speed, ultra-low latency, and hyper-connectivity in the 28GHz band.