SK Telecom and Ericsson on Monday signed a memorandum of understanding that will see them cooperate on 5G research.

The companies will focus initially on next-generation small cells, FDD/TDD convergence, gigabyte data transmission, and ultra-wideband, low-latency technology that could be used for remote driving.

SK Telecom and Ericsson aim to demonstrate 5G technologies at the 2018 Winter Olympics, which will take place in Pyeongchang, South Korea.

"Korea is clearly leading in the uptake of LTE, in terms of technology and subscriber uptake, and SK Telecom is the largest mobile carrier in their market. They are early drivers of technology and we see them as an important partner in defining new opportunities, innovations and requirements for the continued evolution of LTE and towards 5G," said Thomas Norén, head of Ericsson's Radio product area, in a statement.

The announcement comes after Ericsson last week reached a connection speed of 5 Gbps in a lab demonstration of technology it claims could one day be deployed in 5G networks. Representatives from SK Telecom and Japan's NTT DoCoMo were in attendance.

"SK Telecom is pleased to work with Ericsson to lead 5G network technology," said Park Jin-hyo, head of SK Telecom's network technology R&D centre, in a statement on Monday.