KT partners with South Korea’s Land & Housing Corporation to build data centers overseas

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.

JOIN W.MEDIA AT DIGITAL WEEK

SG | MY | ID | TH | VT | PH

When: 23-26 February 2021

Where: Online

The past year has seen incredible leaps forward in our embrace of digital solutions, and we think it’s time to come together and talk about it. We’re bringing together thousands of IT leaders from across Southeast Asia, covering everything from datacenter deployment to digital banking. Digital Week lets you expand your network and engage with new markets from wherever you are.

Want to learn more about ASEAN’s Cloud & IT ecosystem? Start your year off right and Register Today for Free!

South Korea’s largest telecommunications company KT to expand global data center business

South Korea’s largest telecommunications company, KT Corporation is set to expand their global data center business, as demand for data centers is expected to surge post COVID-19

KT signed a memorandum of understanding in partnership with government agency Korea Overseas Infrastructure and Urban Development Corporation (KIND) last week to globally promote KT’s data center business and smart city projects.

“Our partnership will help Korean businesses avail themselves of ICT resources as easily abroad as they do in the nation,” said Park Yoon-Young, the Head of KT’s Enterprise Business Development Unit.

KT will focus on designing data centers and creating the strategy to develop products, while KIND will lead in researching new demands for data centers in connection with their overseas projects to attract investors.

“When our two companies cooperate, we will more effectively assist Korean businesses in achieving their global reach,” said Hur Kyong-Goo, the CEO of KIND.

KT is known for launching the world’s first nationwide commercial 5G network last year, which could positively impact their new data center business venture by enabling lower latency connections and edge computing capabilities.

The telecom giant also announced on Wednesday it will launch a subscription-based cloud gaming platform called GameBox, which will likely require data centers to successfully provide low latency and lag for gamers.

Why is South Korea a perfect place to set up a data center?

South Korea is one of the most technologically advanced and digitally connected countries in the world with constant innovations that make it a perfect place to set up a data center.

The country is seeing an increase in data center investments from global tech giants and data center providers, with even more expected from the increasing requirements brought by demand for cloud services and mobile technology.

As a result, South Korea is forecast to be one of the five leading revenue generators for Asia Pacific that will help to produce 80% of the overall data center revenue amounting to US$32bn in the region by 2023.

Explore the Korea data center and cloud market with W.Media

The competition in the Korea data center and cloud markets is heating up, as more service providers are expanding to satisfy the growing data demands of the tech savvy nation.

Register now for our Korea-focused digital events on hybrid cloud innovations and look ahead to the future of the cloud and data center industries!

Get involved in the conversation and connect with your peers on LinkedIn and Facebook using #WMediaEvent!