South Korean mobile operator SK Telecom has teamed up with retail company Shinsegae to develop a retail business model based on 5G and an advanced ICT platform. SK Telecom and Shinsegae I&C, Shinsegae’s IT subsidiary, have signed a memorandum of understanding to develop a retail business model that encompasses shopping, e-commerce, payment and security, Yonhap news agency reports. SK Telecom will adopt its augmented and virtual reality technology to blend digital and in-store elements to create shopping experiences and develop a payment system and related security services. The two partners will also explore ways to use big data to provide customized services and handle customer needs online and offline.