South Korea’s telecom company KT and United States telecom service provider Verizon have agreed to cooperate in establishing 5G specifications for wireless access technology.
 
The two sides signed a memorandum of understanding on Friday to establish the 5G specifications within this year.
 
The specifications, which will serve as key common standards for 5G activities around the world, will define coordination between handsets and cell towers, such as frequency and transmission methods.
 
Verizon is the largest U.S. telecom service provider with 112 million wireless subscribers. The American firm established the 4G long-term evolution (LTE) network in the United States in 2010 and started tests last year with an aim to commercialize 5G technology from 2017.