Companies to introduce advanced network technologies to domestic and overseas markets.
Ericsson and LG Uplus have entered into a memorandum of understanding to lead the development of 5G technology and IoT platforms.
The agreement, which is initially set to run until 2020, covers four different areas of cooperation. The two companies will work on IoT infrastructure including narrow-band LTE.
Ericsson and LG Uplus will also work on making the core network 5G ready by taking on software-defined networking (SDN) and network functions virtualisation (NFV).
The firms will also focus on global content delivery networks (CDNs) and IoT-Advanced technologies.
In order to do the above, Ericsson and LG Uplus said they will establish technology and frequency strategies and work together to prepare a roadmap for long-term network development.
Areas of cooperation include research, testing, result sharing, and development of technology and equipment.
Ulf Ewaldsson, CTO at Ericsson, said: "By enabling essentially unlimited access to information anywhere and anytime, 5G can deliver enormous benefits to people, business and society."
Kim Suntae, CTO of LG Uplus, added: "We will prepare for the 5G era based on a combination of our network management know-how and Ericsson’s strong technological power.
"The two companies will lead network evolution by introducing advanced network technologies to domestic and overseas markets through close collaboration."