 |
A visual concept of a fiber optics network cable (123rf) |
South Korean telecommunication firm KT announced Monday plans to take part in a new 9,000-kilometer subsea cable project reaching six countries in East Asia and Southeast Asia, as an owner and operator.
With the new project, KT aims to meet a growing corporate demand for greater connectivity to achieve digital transformation.
KT signed a memorandum of understanding with real estate consulting firm Savills Korea on Monday to launch and operate the submarine cable, connecting six countries -- Korea, Japan, Taiwan, Indonesia, Singapore and the Philippines.
KT will carry out a strategic investment in the cable as a member of a consortium dedicated to the project, while it will provide consulting for the cable architecture, construction and operation. Savills Korea will play a role of attracting more investors to the project and managing legal procedures such as contracting and licensing.
“We expect the subsea cable market to grow further as we see more demand for cloud services and over-the-top media services across Asia,” Shin Soo-jung, head of KT Enterprise, said in a statement.
KT has yet to determine how much it will invest and which city or cities it will be wired.
So far, three coastal cities in Korea -- Busan, Geoje in South Gyeongsang Province and Taean, South Chungcheong Province -- are linked to subsea fiber cables. KT owns a stake in two such cables -- the Asia Pacific Gateway and New Cross Pacific Cable System.
 |
Shin Soo-jung (left), head of KT Enterprise, and Savills Korea CEO Lee Soo-jeong pose for a photo during a signing ceremony at a KT office in Songpa-gu, Seoul, Monday. (KT) |
