Korean mobile operators KT and SK Telecom on Monday hosted GSMA or Global System for Mobile communications Association Board meeting on Monday, in Seoul, South Korea.

With participants comprising of executives from Samsung and LG Electronics, the one-day event underscored the significant role of Korea in the world’s ICT industry and chalked out their visions of future innovation to the GSMA Board.

“Both SK Telecom and KT are considered pioneers in one of the world’s most dynamic and technologically advanced markets. We are honored to have had this opportunity to visit Korea and to learn more about the technologies and services which are shaping the future of communications not only in Korea, but also in the global industry,” said Rob Conway, CEO and Member of the Board of the GSMA.

Additionally, the board emphasized on themes related to the role that telecommunications companies would play in the movement to revive the world economy.

Earlier in April, the GSMA and 24 of the world’s largest mobile communications companies signed a letter urging the G-20 governments to endorse ambitious private sector development, which according to AT Kearney, could see more than $550 billion of private capital invested, could create 25 million jobs and boost global GDP by between 3-4 percent.

“At a time when many are looking to government to dig deep to finance an economic recovery, the mobile industry is in the rare position of being able to provide a private sector stimulus.  Mobile has the ability to connect hundreds of millions into the global information economy, and in doing so, usher in a new era of productivity, efficiency and prosperity,” commented Alexander Izosimov, Chairman, GSMA.