South Korea's top mobile carrier SK Telecom Co. said Wednesday it has forged ties with Finland-based Nokia Corp. to exchange technologies and know-how to develop the fifth-generation (5G) network.

Under a memorandum of understanding, the two firms will also make efforts to establish grounds for the standardization of 5G base stations, and test-run various solutions and applications that work under the latest network, SK Telecom said. 

SK Telecom said the two parties will be able to take the lead in the development of the next-generation technology by combining its network-operating know-how and Nokia's capability in facility development.

The South Korean firm currently heads the so-called "5G forum"

that was launched by the Ministry of Science, ICT and Future Planning, while Nokia chairs the 5G Public-Private Partnership Association that was kicked off by the European Commission.

During the Mobile Asia Expo held in Shanghai earlier this month, the two companies jointly showcased a data transmission technology of 3.8 gigabit per second under the long-term evolution network, proving their lead in the mobile network industry. (Yonhap)