KT Corporation (KT), South Korea’s largest telecommunications company, has announced a partnership with the country’s Land and Housing Corporation (LH) to build internet data centers overseas.

In a Memorandum of Understanding (MoU) signed by both parties, KT will be installing data centers in LH’s overseas industrial facilities and offer digital transformation services to both South Korean and foreign companies.

On the other hand, KT’s Head of Global Business, Moon Sung-wook, revealed that LH will help companies in overseas industrial complexes innovate by using KT’s digital platform capabilities.

“We will develop specific digital transformation strategies according to each market, contributing to the vitalisation of industrial complexes overseas,” he added.

South Korea sets its eyes on data centers

South Korea is the latest up-and-coming player in the data center industry, with homegrown tech giants forming partnerships with both the South Korean government and foreign tech firms to grab a bigger share of not only the data center market, but also the global chipmaking market, which is integral to powering data centers.

Seoul, the capital city of the East Asian Tiger economy was also recently named as a ‘Market to Watch’ for having a 300 megawatt (MW) data center capacity.

With the world’s fastest Internet speeds, significant government investment into ICT infrastructure, and a large talent pool, South Korea is quickly gaining recognition as one of the best places in Asia to build data centers.

LH’s Head of Global Business, Lee Yong-sam, said that he hopes the collaboration will create a synergy in developing new cities and industrial complexes.

“We plan on expanding cooperation with related firms abroad to help Korean companies’ entry into foreign markets,” he continued.

KT currently owns and operates 13 data centers in South Korea, including Seoul’s largest hyperscale data center in Yongsan which opened in November 2020.