South Korea’s largest telecom company KT Corporation announced that it established and opened the KT Cloud Open Space. According to KT, it has set up the KT Cloud Open Space to foster the country’s startup growth by discovering upcoming companies and providing office spaces, management training, and development programs. Furthermore, KT installed the startup hub in Pangyo Techno Valley’s Startup Zone, a comprehensive technology complex located south of Seoul.
“The Pangyo Startup Zone is the largest startup support cluster in Korea and has shared resources and space for technology collaboration,” said a KT official. Currently, South Korea’s Ministry of SMEs (small and medium-sized enterprises) and Startups operate the Startup Zone. In the Startup Zone, participating companies primarily focus on information and communication technology, cultural technology, fusion technology, and biotechnology.
Strengthening Domestic Cloud-Based Technologies
In addition to promoting and advancing the local startup scene, KT’s new establishment could significantly boost the country’s cloud technology. KT currently operates multiple cloud data centers and continuously innovates related infrastructure to support cloud services and networks. Last year, KT also launched the Cloud One Team, an organization aiming to strengthen the South Korean cloud ecosystem’s competitiveness. Using the new startup hub, KT can develop more hybrid cloud technologies with startups to foster cloud technology commercialization.
“With the opening of the KT Cloud Open Space, we will actively cooperate so that domestic startups can grow together in connection with the South Korean cloud ecosystem,” said Kim Seung-Woon, Head of the Infrastructure Service Division in KT’s IT department. Through the KT Cloud Open Space, KT will optimize the startups’ growth potentials, ultimately advancing its cloud technology capabilities.
Aside from offering shared office spaces and conference rooms, the KT Cloud Open Space will provide substantial startup growth support. To this end, KT Corp. will supply the startups with mentoring support, networking connections, advanced infrastructure technologies, and marketing assistance. Inside the premises, KT plans to share its cloud technologies with the startups and conduct activities, including cloud-computing technology training and consulting services.
Additionally, KT will deliver technical support to startups, enabling them to develop new technologies further and discover opportunities and partnerships. Besides the newly established startup hub, KT also supports other small businesses through a creator education program. The telecom operator specifically designed the program to help small business owners recuperate from the pandemic’s impact.
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