Huawei's product and solution CTO Li Sanqi revealed that the company has reached a close cooperation with three major South Korean telecom companies, SK Telecom, KT, and LG Uplus, for the research and development of fifth-generation network services.

During the closing ceremony of Startup Nations Summit 2014 held in Seoul, Li said that Huawei will work together with telecom service suppliers to develop a stable 5G network. In addition, Huawei's president of the terminal mobile product line Kevin Ho previously announced that Huawei is planning its 16th R&D lab in South Korea.

Li revealed that Huawei is committed to making 5G technology a reality along with SK Telecom, KT, and LG Uplus. They currently mainly talk about 5G development engineering and the Internet of Things.

Though it is still early to talk about 5G technology standardization and there is yet no official standard to define the speed of 5G transmission, related reports already pointed out that by 2020, 5G speed will be 1,000 times of that of 4G.