Thank you for making time for us today, Mr. Cervell.
Pleasure to be here
It's been about nine years this company was launched as a joint venture between Ericsson and LG. Since then benefits have you reaped and what are the advantages of operating in S. Korea as a network equipment provider?
We decided in 2010 to go into this joint venture with LG because we thought it was the perfect combo with our technological leadership and LG's knowledge about ICT industry here in Korea. We thought it was a perfect match to address the infrastructure biz in Korea. I think the reason why Korea is a very interesting market for us as Ericsson is that it's a very mature and advanced ICT market. It's also a market that is driven both by government and ICT companies who want to be first.
Recent statistics show Ericsson is number three in the global market as a network equipment provider behind Samsung Electronics and Huawei. What does your company plan to do to set itself apart from the competition?
Well I don't see Ericsson as falling behind. We have announced 18 5G comemrcial
contracts, where 6 has already launched and we are present in 180 markets. I think Huawei has been a competitor to us in many markets for a number of years and as I have said, they are the reason we have been pushing ourselves to become even better and maintain our leadership as technology leader.
Ericsson plans to provide consumer-friendly 5G services in the Korean market. There have been many complaints among Korean consumers about the connectivity. How will you resolve these issues?
Telcom companies in Korea decided to go very early for 5G, as a matter of fact, being the first market in the world. and this is a new technology. When a new tech is introduced, it normally takes some tiem to tune and optimise that in real life and that's what we're seeing right now What we are doing is to make sure we continue to upgradeand update our network and to make sure the speed gets faster and faster, more and more stable, and we will use our technology leadership to make sure that happens.
The Korean government in early April launched its 5G+Strategy. How do you evaluate this move and what kind of growth potential do you see for Korea?
As a matter of fact, this is one of the reasons I love to be in Korea. Korea from a gov't perspective and operative perspective. This is going to create a lot of revenue, 180 tril won over the next number of years, it's going to create new jobs 600-thousand jobs and it'sgoing to be contributed to the export of Korea. So this fact will actually it possible for Korean companies to take advantage of this -- to be more competitive, to be more efficient or to be more sustainable.
With Pres. Moon's state visit to Sweden, what kind of opportunities do you see for business cooperation between the two countries?
I think there is a perfect match between Korea and Sweden. ICT is of course an obvious area which is an industry that we represent as Ericsson-LG. It's also important to understand that ICT is somethinng that will have impact on every single industry. It doesn't matter if it's transportation, health or utilities or whatever it may be. A company today will have to explore how it can use mobile tech or 5G tech to remain competitive in going forward.
Well thank you for your insights today. It was a pleasure speaking with you.
Thank you. It was a pleasure speaking with you.. answering your questions.