Jasmine Telecom System (JTS) and South Korea’s KT Corporation have signed a strategic collaboration agreement to develop an Internet Data Center (IDC) business in Thailand.
JTS, a subsidiary of Jasmine Group, will enter the hyperscale data center and cloud service market to serve global cloud service providers with scalability and ample storage space.
“The hyperscale data center and cloud service business will be a foundation to add value to Jasmine Group’s network business,” said Somboon Patcharasopak, the Director and Acting President of JTS, one of Thailand’s leading integrated telecommunications and IT systems providers.
As part of the agreement, JTS and KT will share knowledge and experience in the IDC industry to develop financing strategies and business models for Internet Data Center solutions.
JTS has experience in providing telecommunication services to corporate customers like cloud infrastructure-as-a-service. This gives JTS an understanding of the rapid change in customer needs and allows them to understand the importance of data in today’s business environment, Mr. Patcharasopak said.
KT plans to enter the Thailand IDC market by the second half of 2021. In March, KT signed a contract on supplying IPTV services with 3BB TV, an IPTV service provider of Jasmine Group. Since then, the two sides have discussed a strategic partnership in the IDC business in Thailand, which is believed to have big growth potential.
Thailand’s cloud market is forecast to grow at an annual growth rate of 19% by 2024, generating 24,000 jobs.