SK networks signs an MOU with T-GAIA the largest mobile phone retailer in Japan on ICT business development.

- MOU for 'ICT Device Recycling Business and Social Value' was signed on Dec. 17.

- Cooperation on mobile phone distribution will be prioritized first to be expanded into the entire ICT field and synergy creation between the two corporate groups.

- SK networks CEO Sang Kyu Park said, "Our collaborative relationship will be focused on ICT business development and enhanced ESG management performance."

SEOUL, South Korea, Dec. 17, 2021 /PRNewswire/ -- SK networks, the headquarters and subsidiaries, has been engaged in ICT business including ICT device distribution, communications network operation and ICT idle asset management. The company is now seeking cooperation with T-GAIA, the largest mobile phone retailer in Japan. This entry into Japan will be the beginning of the company's global business development.

On Dec. 17, SK networks signed an MOU for ‘ICT Device Recycling Business and Social Value’ with T-GAIA, the largest mobile phone retailer in Japan. SK networks CEO Sang Kyu Park(Left) is celebrating the MOU signing via video conference with T-GAIA CEO Nobutaka Kanaji.

SK networks (CEO: Sang Kyu Park) announced on December 17 that it has signed an MOU for 'ICT Device Recycling Business and Social Value'.

This MOU was signed to identify opportunities of mutual cooperation centered around the ICT business that both companies have in common, and seek synergy by creating new values in the midst of the changing global market.

T-GAIA is a subsidiary of Sumitomo Corporation, one of the top five general trading companies in Japan, and the country's largest mobile phone retailer engaged in mobile phone retail store operation, payment service, B2B solution business, etc. With a focus on ESG management, the company's recent investments are being made intensively in future growing business such as environmental response, new and renewable energy, education and farming.

The two companies have agreed to first collaborate for enhanced ESG performance in the mobile phone distribution area. MINTIT, an SK networks subsidiary, is expected to play a pivotal role in this process. MINTIT has established a stable, convenient ICT recycle platform with its AI-based ATM for purchasing used phones that was the first of its kind in Korea. It is also anticipated from this cooperation with T-GAIA that the development of a localized model appropriate for the Japanese market will be expedited.

While SK networks and T-GAIA will together be committed to mobile phone distribution business cooperation followed by new business development throughout the ICT industry, they plan to further reinforce their mutual assistance system that will lead to alliance at the corporate group level. Their efforts will also be expanded to pursue global business expansion beyond Asia.

On the day of the online signing ceremony of the MOU, SK networks CEO Sang Kyu Park expressed his expectation saying, "This is a collaboration between the two companies that each represent their own country who pursue ESG management by taking advantage of their long accumulated experience and knowledge in the ICT distribution business sector. Through this, new business development will be achieved to raise customer and social values while at the same time the industry's future orientation will be established."

T-GAIA CEO Nobutaka Kanaji commented in response, "I am glad to sign this MOU with SK networks and hope that we can together seize various business opportunities following our cooperation on mobile phone distribution."