South Korea’s largest telecommunication company KT Corporation signed a memorandum of understanding (MOU) with Korea Land and Housing Corporation (LH). LH is a government-owned corporation involved in the development, maintenance, and management of land and housing in cities. In the partnership, KT and LH will combine their expertise and establish Internet data centers overseas.
“LH will help companies in overseas industrial complexes innovate by using our digital platform capabilities,” said Moon Sung-wook, head of KT’s global business. “We will develop specific digital transformation strategies according to each market, contributing to the vitalization of industrial complexes overseas.”
Under the agreement, KT will deliver services and technologies for the digital transformation of Korean and foreign companies within the complexes. On the other hand, LH is in charge of the expansion and development of customer infrastructures and firms within the complexes. LH will also develop technologies related to information and communication. In addition to trading industry know-how, they will jointly work to provide affordable service acquisition for the companies. The partnership enables companies in the industrial complexes to utilize stable and integrated Internet operation services from KT.
“We are anticipating synergy to be created with LH’s expertise in developing new cities and industrial complexes and KT’s differentiated capabilities in information and communication technology,” said Lee Yong-sam, head of LH’s global business. “We plan on expanding cooperation with related firms abroad to help Korean companies’ entry into foreign markets.”
South Korea’s Data Center Expansion
Aside from data centers, both companies will collaborate in setting up smart cities on overseas sites. The two companies are targeting to establish KT’s data centers in LH-built industrial complexes abroad. In line with the Korean government’s K-New Deal globalization policy, LH will construct smart cities and complexes in other countries. Last year, LH developed 35 industrial complexes in overseas sites, effectively sharing South Korea’s urban management systems.
KT is operating 13 data centers in Korea, including the largest hyper-scale data center in Yongsan, KT DX IDC. Due to KT’s experience with data center operations, they are expanding their international data businesses and incorporating related services. In September 2020, KT built a hyper-scale data center with Thailand’s Jasmine Telecom Systems.
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