Telcos can become catalysts for economic growth through national digital agenda, ESG alignment – EY’s Joongshik Wang

He highlighted telecom operators’ responsibility to drive inclusive connectivity, societal impact, and ESG outcomes across Southeast Asia.

Southeast Asia’s telecom sector currently stands at a pivotal moment. Whilst widespread 5G rollouts, rising data consumption, and government-backed digitalisation initiatives are driving new opportunities, intense competition, regulatory complexity, and pressure on margins also challenge operators across markets.

As the sector continues to be shaped by rapid digital adoption, Joongshik Wang, EY Asean Technology, Media & Entertainment and Telecommunications (TMT) Leader, provides strong guidance to businesses navigating the fast-paced landscape.
Joongshik leads the TMT practice at EY. He holds close to 30 years of experience and has an extensive track record in commercial transformation, cost optimisation, operational efficiency, and growth strategy across the TMT sector. He is a seasoned transaction advisor with deep experience in synergy assessment, due diligence, and post-deal integration and divestment, including major transactions in digital infrastructure such as data centres.

As a judge for the Asian Telecom Awards 2026, Wang discussed how telecom operators are transforming their roles amidst digital convergence and rising competition and explored how they are moving beyond traditional connectivity businesses and toward higher-value digital and IT services such as cloud, cybersecurity, edge computing, and business-to-business (B2B) solutions to sustain growth.

In your view, how are telecom operators in Southeast Asia adapting their business models to remain competitive amidst rapid digital convergence?

Rapid digital convergence is driving systemic change in how telcos are structured. Traditionally, telcos have been vertically integrated connectivity businesses, providing consumers and businesses access to the internet and digital services whilst owning the infrastructure that connects users to the core network.

As digital access reaches high penetration rates, the traditional connectivity business is becoming increasingly saturated, diminishing growth prospects for standalone connectivity solutions.

In response, telcos are moving up the value chain by offering new IT services like cloud, cybersecurity, and edge computing. Leading telcos are also leveraging their existing customer relationships to sell IT software and services to B2B customers, positioning themselves as a bridging platform between IT software providers and enterprise users.

As connectivity becomes a core enabler of national competitiveness, what role should telecom companies play in supporting broader economic transformation across Southeast Asia?

Telcos across Southeast Asia (SEA) should evolve from pure connectivity providers to strategic enablers of economic transformation. A few examples include investing in high-speed networks such as 5G and expanding digital infrastructure. As well, by promoting affordable access, they can help to bridge the digital divide and support more inclusive digital growth.

Beyond connectivity, telecom operators should enable Industry 4.0 through private networks, the Internet of Things (IoT) and cloud solutions; foster innovation ecosystems for startups; and champion sustainability through the adoption of green technologies. Close collaboration with governments on policy developments and national digital masterplans will ensure telcos can play a central role in strengthening competitiveness and powering SEA’s digital economy.

Given ongoing market consolidation, how should telecom leaders approach partnerships and acquisitions to secure long-term advantage?

There are two key areas for telcos to focus on: data centres and B2B services.

From a digital infrastructure perspective, as data centres become increasingly strategic assets, telcos should form closer partnerships with global hyperscalers to sustain demand for their facilities and ensure they can handle current and future computing applications, including artificial intelligence (AI) training and AI inference workloads. This way, telcos can keep their data centres relevant and powerful for the growing AI-driven digital economy.

On the B2B front, telcos should continuously build and deepen partnerships across the cloud ecosystem, spanning platform-as-a-service and software-as-a-service layers, focusing on professional and managed services that are aligned to industry verticals. Competitiveness is further enhanced when telecom operators develop in-house IT service capabilities, creating market opportunities to scale B2B offerings and enhance client stickiness. In some markets, we have seen telcos acquire IT services players and integrate them into their core business to unlock synergies and accelerate B2B growth.

With intensifying competition and rising customer expectations, how can telcos differentiate through innovation and technology?

Telcos can differentiate by shifting from pure connectivity to technology-driven value creation. This includes investing in AI-powered, software-defined networks to deliver superior reliability and more dynamic service quality, whilst offering network-as-a-service and edge computing to enable enterprise innovation. Personalisation is key—using real-time analytics and AI to tailor offerings, predict churn, and deliver proactive customer care.

Beyond connectivity, telecom operators should build ecosystems that bundle FinTech, content, IoT, and smart home solutions to create integrated digital lifestyles. Security and trust are differentiators too, with cybersecurity, privacy controls and sovereign cloud options embedded into core offerings. Sustainability matters as well. Green networks and energy-efficient infrastructure can strengthen brand equity.

By combining platform innovation, customer-centric design, and ecosystem partnerships, telcos can evolve from commodity providers to strategic digital enablers.

Looking ahead, how do you think telecom companies can shape the future of digital connectivity to drive greater inclusion and societal impact across Southeast Asia?

Telcos can play a transformative role in shaping the future of digital connectivity across SEA by focusing on inclusive access, ecosystem innovation, and societal impact.

First, they should accelerate universal broadband and 5G deployment, prioritising rural and underserved areas through affordable pricing models and community networks. Second, telcos can support digital literacy and skills development by partnering with governments and non-governmental organisations to empower individuals to participate in the digital economy. Third, they should create inclusive platforms such as mobile banking, telehealth, and e-learning, leveraging connectivity to bridge gaps in financial services, healthcare, and education. Lastly, embedding sustainability and green infrastructure will ensure long-term resilience, whilst open application programming interfaces and strategic partnerships can foster innovation ecosystems that support small- and medium-sized enterprises and startups.

By aligning with national digital agendas and embedding environmental, social, and governance (ESG) principles, telcos can move beyond connectivity to become catalysts for economic growth and social equity across SEA.

As a returning judge at the Asian Telecom Awards 2026, what qualities will you value most in recognising companies that exemplify leadership, innovation, and meaningful impact?

As a returning judge at the Asian Telecom Awards 2026, I will be looking for companies that demonstrate visionary leadership, bold innovation, and a commitment to meaningful impact. Leadership means setting a clear direction for the industry—anticipating future needs and driving transformation rather than following trends. Innovation should go beyond technology for its own sake. It must deliver real value to customers and society, whether through smarter networks, inclusive platforms, or sustainable practices. And most importantly, impact matters—bridging the digital divide, empowering communities, and embedding ESG principles into the core of the business. These qualities define true excellence and will shape the future of connectivity across Southeast Asia.