KT has signed a Memorandum of Understanding with real estate consulting firm Savills Korea. The six countries that will be linked are, namely, South Korea, Japan, Taiwan, Indonesia, Singapore, and the Philippines.
February 9, 2022
South Korea-based telecommunication company KT Enterprise, a brand of KT Corporation, is planning to take part in the upcoming 9,000 km subsea cable project connecting six countries in East Asia and Southeast Asia, as an owner and operator.
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With the new subsea cable project, the South Korean company is seeking to meet the growing corporate demand for greater connectivity to achieve digital transformation.
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KT Enterprise has signed an MoU with real estate consulting firm Savills Korea to launch and operate the submarine cable system. The six countries that will be linked through this cabling project include – South Korea, Japan, Taiwan, Indonesia, Singapore, and the Philippines.
KT Enterprise 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 the role of attracting more investors to the project and managing legal procedures such as contracting and licensing.
Shin Soo-jung, Head of KT Enterprise, said, “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.”
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The company has not yet decided upon the amount it will invest and which city or cities will be connected through this project.
To date, three coastal cities in Korea — Busan, Geoje in South Gyeongsang Province, and Taean, South Chungcheong Province – have been connected through subsea fiber cables. KT Enterprise owns a stake in two such cable systems — the Asia Pacific Gateway and New Cross Pacific Cable System.
