KT Joins Philippines#s $1.8 Bln Broadband Project

General Press Releases Monday August 20, 2018 08:59
PRNewswire/InfoQuest--20 Aug--SEOUL, South Korea
  • KT Wins a $47 Million Contract to Build Optical Fiber Network in Luzon
  • New Deal in Philippines to Provide Foothold into Southeast Asian Markets

KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, will participate in a nationwide project to drastically improve Internet connectivity in the Philippines, gaining a major foothold in the Southeast Asian country and neighboring region.

Yun Kyoung-Lim, ninth from left, head of KT's future convergence and global businesses, and Dennis Anthony H. Uy, 10th from left, CEO of Converge ICT Solutions Inc., and other representatives from the two companies are photographed during a signing ceremony for the construction of an optical fiber network in Luzon, held at EDSA Shangri-La in Manila on August 8.

KT signed a 53 billion won (US$ 47 million) contract last week with the Philippines's Converge ICT Solutions Inc. to build an optical fiber network along some 1,570 kilometers (975 miles) of main roads in the northern region of Luzon. The company hopes the contract will lead to more business partnerships with the top Philippines Internet provider in the future.

The latest deal is part of Converge's $1.8 billion endeavor to expand its broadband coverage throughout the Philippines over the next five years. KT is increasing efforts to expand its business presence and partnerships overseas, notably in Asia, Europe and Africa, with the company's latest Internet solutions, including GiGA Wire, GiGA WiFi and GiGA LTE.

"The partnership with Converge ICT Solutions is a great opportunity to introduce our technological expertise in telecommunications network planning, construction and operation not only in the Philippines but also in neighboring countries," said Yun Kyoung-Lim, head of KT's future convergence and global businesses. "KT will continue its efforts in representing the Republic of Korea to the world as the global ICT leader."

KT is a global leader in next-generation wireless technology. The company is preparing for the commercial launch of the country's first nationwide 5G network early next year and successfully showcased trial 5G services with the world's first 5G-ready network. The company is also a pioneer in future technologies such as artificial intelligence (AI), autonomous driving, and virtual and augmented reality (VR and AR).

In recent years, KT has installed more than 5,500 kilometers (3400 miles) of optical fiber networks in Myanmar, Bangladesh and other countries. For the Philippines-based project, the company plans to cooperate with many Korean small- and mid-sized companies, which have proven their high quality through previous overseas projects. KT expects to have more business opportunities in the Philippines, including smart energy, corporate and public innovations, and disaster and safety management.

The Korean telecom leader also signed an agreement last month with Germany-based albis-elcon to provide its GiGA solutions and next-generation technologies to communications service providers in Europe and other parts of the world. KT is also now working on various projects to improve ICT infrastructure in Africa, including broadband networks in Rwanda, Gabon and Botswana and a public security network in Angola.

Luzon is the largest of more than 7,000 islands in the Philippines and is home to the Southeast Asian country's capital, Manila. More than half of the country's population, estimated at over 106 million, live on Luzon. Because the country consists of so many islands, the Philippines has experienced difficulties in improving its Internet speed and telecommunications service environment.

When the optical fiber cables project in Luzon is completed in June 2020, a great number of people in the Philippines are expected to benefit from high-speed home Internet connections. The government of President Rodrigo Duterte has established the Department of Information and Communications Technology, and the administration promoting e-government services and ICT development.

MEDIA CONTACTS
For inquiries, please contact our Foreign Media Relations Team at kt.fmrt@gmail.com
ABOUT KT CORP. (KRX: 030200; NYSE: KT)

KT Corporation, Korea's largest telecommunications service provider reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company leads the 4th industrial revolution with high speed wire/wireless network and innovative ICT technology. After installing 4.5 million fixed lines for 20 million users in just 12 years, KT was the first telecom provider to introduce 5G broad-scale trial service in 2018. It is another step in KT's continuous efforts to deliver essential products and services as it seeks to be the No.1 ICT Company and People's Company.

For more information, please visit our English website at https://corp.kt.com/eng/
Photo - https://photos.prnasia.com/prnh/20180817/2214906-1

Latest Press Release

KFC Thai Tea Is Mellow. Must Try Now!

KFC satisfies Thai tea lovers for the first time with concentrated Thai tea with mellow and milky flavor, try the delicious selection of Thai tea in 3 styles, including Thai cold tea, Thai tea float and cold tea volcano black chrunchy, starting at only...

Let Our Strawberry-Topped Desserts Tempt You at The Emporia Restaurant

It's hard not to love strawberries. They taste so good and yet are so good for you too. Strawberries can change a simple dessert into a marvellous and scrumptious creation. Come and see, and more importantly TASTE, our sweet inventions such as Strawberry...

Dusit Thani Pattaya holds Beach Cleaning Activity

As an eco-friendly hotel, Dusit Thani Pattaya organises special activities to support the restoration of North-Pattaya beach and the surrounding areas of the hotel's public beachfront to ensure and maintain the good environment, which assists in drawing...

CHINESE NEW YEAR FEASTING WITH ALL THE TRIMMINGS

Celebrate Chinese New Year with an uplifting family feast featuring all your Spring Festival favorites plus delightful surprises at Seasonal Tastes, Westin Grande Sukhumvit, Bangkok. Welcome the Lunar New Year of the Prospering Pig on Tuesday 5th &...

Your Year of Good Fortune is here at the #CHINESE NEW YEAR FESTIVAL 2019 1-11 Feb 19 at Central Embassy Central Chidlom

Central Embassy & Central Chidlom along with Central The 1 Credit Card & MasterCard invite you to celebrate our year of good fortune together at the 'Chinese New Year Festival 2019' on 1-11 February, 2019. See the spectacular performances on our...

Related Topics