SK Telecom close to sign a partnership with OTT service Apple TV+

South Korea’s top wireless carrier SK Telecom Co. is teaming up with Apple’s online video streaming service Apple TV+ amid its competitors’ tie-up with Disney+ and Netflix over greater share in the ever-growing pay TV market.

According to industry sources on Sunday, SK Telecom and Apple TV+ are close to ink a partnership deal for the video streaming and pay TV service in Korea. SK Telecom said nothing has confirmed yet, but industry insiders expect they will soon announce a partnership.

“Although they close the deal, it would be difficult to launch the service within the first half of the year due to the set-top box settings,” said a source from the industry.

Apple TV+ is Apple’s subscription video streaming service featuring original TV shows and movies that debuted in November 2019. A monthly subscription is just $4.99 per month after a free seven-day trial, more affordable than other OTT services.

The latecomer is planning create original contents.

The first Korean original series would be sci-fi thriller “Dr. Brain” based on a popular webtoon, which will be directed by Kim Jee-woon and star SAG Award winner Lee Sun-kyun (“Parasite”). The series also will mark the first Korean-language project for Apple TV+.

Korean, Japanese and English-language drama series “Pachinko” based on the acclaimed novel and starring Youn Yuh-jung and Lee Min-ho will follow.

Apple TV+ currently struggles in North America in competition with video streaming giants Netflix, Disney+ and Amazon Prime. It hopes for a better luck in Korea through linkup with No. 1 telecom company.

Wireless carriers are actively courting foreign partners upon witnessing the growth of LG Uplus, whose IPTV subscription rose by 20 percent in just two years of a partnership with Netflix.

SK Telecom shares rose 2.35 percent to close at 283,000 won in Seoul on Monday.

[ㄏ Maeil Business Newspaper & mk.co.kr, All rights reserved]