Ericsson sets up 4G lab in South Korea
Swedish kit vendor Ericsson said Monday it has struck a deal with the South Korean government to set up a 4G research and development facility in one of the world’s most technologically advanced countries.
Ericsson is understood to be sinking about $1.5bn into the strategy over the next five years, which will focus on mobile and green technologies and could create up to 1,000 new jobs.
South Korea said it is looking to build a green eco-system around a community dedicated to developing sustainable climate solutions based on 4G technologies, such as LTE.
Commenting on the announcement, Ericsson CFO and incoming CEO Hans Vestberg, said he believes that the offsetting of CO2 emissions will require new ways of conducting business and new ways of living, and will also require large scale investments in IT and communications technologies, as these sectors could offset societal CO2 emissions by more than 15 per cent by 2020.
“Telecommunications and IT technology will play a vital role in transforming cities and countries through smarter broadband solutions. As one of the world’s most advanced nations in the use of ICT, Korea has the opportunity to create a green eco-system and become a great example for the rest of the world,” said Vestberg.