SAN JOSE, Calif. -- Redback Networks Inc. (Nasdaq:RBAK - News), a leading provider of multi-service edge routers for next generation IP networks, today announced a joint development agreement with the Electronics and Telecommunications Research Institute (ETRI), a research agency funded by government and private companies in Korea to advance information and communication technologies.

ETRI's technology will be integrated into certain Redback routing products. ETRI's technology will be used to extend Redback's core broadband technologies to meet the needs of communications carriers and government-run networks in Korea and Greater Asia. Future collaboration also is planned around mobility services. Mobility services are attractive to Redback because the addressable edge router market for mobility services is expected to exceed $1.2 billion worldwide by 2008, according to two market authorities, the Yankee Group and Infonetics Research.

"Redback has a solid history of collaboration and service innovation with Korean carriers, such as Korea Telecom (KT), and our equipment has been a critical component of the deployment of nationwide multi-service broadband networks," said Simon Williams, vice president of sales and operations for the Asia Pacific region at Redback Networks. "We believe that working with ETRI will help tailor our SmartEdge family of products to the Korean market and expand our broadband mobility opportunities in Korea."

Redback Networks Inc.