South Korean telecom giant KT Corp. (KRX: 030200; NYSE: KT) has signed a partnership deal with the Korea Overseas Infrastructure & Urban Development Corp. (KIND) to collaborate on the global expansion of KT’s data center services and smart city efforts. The agreement entails joint data center projects, business information exchange, public-private partnerships, and business development and financing consultations.
The effort will see KT design data centers and create business plans as well as contribute product development and business operations management. KIND will focus on finding new demands for data centers in connection with its overseas projects, sharing such discoveries with KT, and assisting KT to attract investments.
"KT will leverage its diverse business achievements in the domestic market into expanding globally through cooperation with KIND," explained Park Yoon-Young, head of KT's Enterprise Business Development Unit. "Our partnership will help Korean businesses avail themselves of ICT resources as easily abroad as they do in the nation."
"KIND is entering the new business of building data centers by signing the MOU with KT," added Hur Kyong-Goo, CEO of KIND. "When our two companies cooperate, we will more effectively assist Korean businesses in achieving their global reach."
KIND is a government-funded corporation that assists Korean businesses in their overseas investment and development projects. KIND supports overseas infrastructure contracts, offers information and consulting services, and makes joint investments in public-private partnership projects.
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