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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  KT Corporation    A030200   KR7030200000

KT CORPORATION

(A030200)
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KT : South Korea's KT Corp. to Enter Thailand's IDC Market

10/06/2020 | 03:40am EST
- Korea's Top IDC Operator Signs Strategic Partnership with Thailand's JTS -
- New Collaboration with Jasmine Group's IDC Unit Follows IPTV Partnership -

SEOUL, South Korea (September 29, 2020) - KT Corporation (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, is expanding its strategic partnership with Thailand's Jasmine Group as part of efforts to explore growing business opportunities in the Southeast Asian and other global markets.

In a latest of such efforts, KT signed a strategic collaboration agreement with Jasmine Telecom Systems (JTS) last week to develop a new internet data center (IDC) business in Thailand. JTS is the IDC business unit Jasmine Group, a leading Thai telecommunications network operator. KT is the top IDC operator in South Korea.

"This IDC business partnership with JTS is a great opportunity for KT to prove its business capability in the global market," said Kim Youngwoo, head of KT Global Business. "We are ready to expand our outreach to global markets through our endeavor in Southeast Asia, which is a newly emerging IDC market."

Under the agreement, KT and JTS will prepare to enter Thailand's IDC market by late half of 2021 to provide high-quality services to global cloud service providers. The two strategic partners will share their knowledge and experience in IDC projects; develop financing strategies and new business models; propose IDC solutions to global cloud service providers; and undertake IDC-related cooperation for technology and solutions.

"The hyperscale data center and cloud service business will be a foundation to add value to Jasmine Group's network business. Through joint development of IDC business, we look forward to long-term cooperation with KT," JTS President and Director Somboon Patcharasopak said.

The strategic partnership between KT and Jasmine Group has expanded their shared interest in the growth potential of Thailand's IDC market. In March this year, KT signed a US$19 million contract with Jasmine Group's another affiliate, 3BB TV Co., to provide commercial IPTV (Internet Protocol TV) service in Thailand.

The data center market is growing rapidly in Thailand, driven by government digital transformation initiatives and higher participation by enterprises of all sizes. The ASEAN data center market is expected to grow at an annual rate of some 16 percent in the next five years, led by the emerging markets of Thailand and Indonesia, according to a recent study by Frost & Sullivan, a global market research company.

Disclaimer

KT Corporation published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2020 07:39:05 UTC


© Publicnow 2020
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Sales 2020 23 975 B 21,8 B 21,8 B
Net income 2020 699 B 0,63 B 0,63 B
Net Debt 2020 4 404 B 4,00 B 4,00 B
P/E ratio 2020 9,00x
Yield 2020 4,74%
Capitalization 5 950 B 5 371 M 5 403 M
EV / Sales 2020 248x
EV / Sales 2021 241x
Nbr of Employees 23 371
Free-Float 91,1%
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Number of Analysts 31
Average target price 31 036,67 KRW
Last Close Price 24 250,00 KRW
Spread / Highest target 56,7%
Spread / Average Target 28,0%
Spread / Lowest Target -5,15%
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Hyeon-Mo Ku Chief Executive Officer & Director
In-Hwe Kim Co-President, Director & Head-Management Planning
Dae-Yu Kim Chairman
Il Cho Head-Finance
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