KT Chairman Advocates New Technology for Better World
- Harvard Business School Selects KT-MEG Solution for 2018 Case Study
- KT Corp. Aims for KRW1 Trillion Sales in Smart Energy Market in 2022
SEOUL, South Korea, Nov. 14, 2018 /PRNewswire/ -- Chairman Hwang Chang-Gyu of KT Corp. (KRX: 030200; NYSE: KT) introduced the company's smart energy solution, KT-MEG, along with a technology-based epidemic prevention project, during a guest lecture at Harvard Business School (HBS) last month.
During the lecture, Chairman Hwang showcased KT-MEG, which was recently highlighted in one of the university's renowned case studies. He also discussed KT's global efforts to fight the spread of epidemic disease using information and communications technology (ICT).
"Smart energy and our epidemic prevention project address serious global issues while also catapulting KT forward as a global business leader," Chairman Hwang said during his October lecture at HBS, which is his ninth at Harvard University since 2005.
The chairman last year delivered a lecture in April on KT's GiGAtopia, a 5G wired and wireless infrastructure project. KT has so far committed US$4 billion to realizing the project.
The Korean telecom leader this year led a working group under the United Nations and in September released a report on how technology can stem infectious disease.
First HBS Case Study of Korean Smart Energy
KT's smart energy project was chosen for a case study as part of "21st Century Energy," a subject for second-year master's degree students. Chairman Hwang, the primary figure in the case study, explained the details of KT's energy project to some 60 students.
HBS case studies are widely read by corporations as well as universities and research institutes throughout the world. KT expects the case study on its smart energy project will help widen the company's footprint in overseas energy markets.
KT's smart energy project was the first Korean energy project to be selected for an HBS case study. GiGAtopia was also the first Korean network project to be picked for a case study.
Only two other Korean companies have been chosen for HBS case studies twice or more -- Samsung Electronics (marketing, semiconductors and global operations) and SK (corporate social responsibility and its social network service, Cyworld).
KT Aims for KRW1 Billion Sales in Smart Energy Market in 2022
KT's smart energy business is centered on the use of KT-MEG (Micro Energy Grid), the first intelligent integrated energy management platform, and e-Brain, an artificial intelligence (AI)-based engine for big data analytics.
Through e-Brain, KT-MEG provides integrated solutions in all areas of energy, ranging from production to consumption and trading. KT-MEG enables the management of electric power, solar power, heat, gas, water and wind. The KT-MEG Center, which opened in Gwacheon, Gyeonggi Province, in 2015, manages a diverse range of sites from large-scale generators to small buildings.
As the core of KT-MEG, e-Brain goes beyond simple controls. It is capable of performing diagnostics in real time, making forecasts and conducting optimal control. By using AI and big data, it analyzes inherent patterns in energy production and consumption.
E-Brain is capable of analyzing utility bills and outside temperatures in real time during the diagnostic phase and then produces models during the forecasting phase. Finally, it simulates energy consumption patterns, durations of energy consumption and temperatures, and presents the optimal control based on the simulations.
During his lecture at HBS, Chairman Hwang said it would be possible to cut energy costs by 10 to 20 percent with the use of KT-MEG and e-Brain, and a further 20 to 40 percent by replacing outdated facilities.
KT's energy business is growing rapidly. The number of sites linked to KT-MEG has risen from, 1,700 in 2015 to 14,000 over the past three years. Its sales revenue is expected to reach US$250,000 million this year, six times higher than US$40 million in 2016. The sales revenue targets are 500 billion won in 2020 and 1 trillion won in 2022.
KT is also promoting its energy business overseas. The company signed a 120 billion won project for remote metering in Uzbekistan in May 2015 and a subsequent 30 billion won project in September to provide the country with smart meters and an operating system.
Another overseas project was launched in July 2015 to install solar power generating systems in 44 villages throughout Vietnam's Quang Binh Province. KT is also planning a project in Australia installing energy storage systems and providing KT-MEG solutions.
KT Encouraging ICT for Epidemic Prevention
A KT-led report entitled "Preventing the Spread of Epidemics Using ICT" was recently submitted to the International Telecommunication Union (ITU)'s Broadband Commission for Sustainable Development at an annual meeting in New York on September 23. The commission is jointly led between the ITU and UNESCO.
The report described how ICT could be used to fight infectious diseases. KT examined a number of ICT-based tools for fighting the spread of infectious disease, and encouraged wider participation from government and civil services to stem epidemics.
In particular, KT proposed the Global Epidemics Prevention Platform, which would enable the entire world to share information on infectious diseases.
In 2017, KT launched Smart Quarantine in South Korea. The program uses roaming data to halt the spread of infectious diseases by informing health authorities whether any arriving passengers have traveled to a country with a disease outbreak. KT also is advancing projects in other countries by using this same model.
The use of roaming data has been found to be effective in the fight against infectious diseases. After the first Middle Eastern Respiratory Syndrome (MERS) patient was diagnosed in South Korea in 2015, the number of confirmed cases in the country increased to 186. However, there have been no cases of MERS in South Korea this year.
KT expects that ICT-based quarantine services such as Smart Quarantine will gain momentum throughout Asia, especially in the southeast region and in the United Arab Emirates, and Africa, primarily in Kenya, Ghana and Rwanda.
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ABOUT KT CORP. (KRX: 030200; NYSE: KT)
KT Corporation, Korea's largest telecommunications service provider reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company leads the 4th industrial revolution with high speed wire/wireless network and innovative ICT technology. After installing 20 million fixed lines in just 12 years, KT was the first telecom provider to introduce 5G broad-scale trial service in 2018. It is another step in KT's continuous efforts to deliver essential products and services as it seeks to be the No.1 ICT Company and People's Company.
For more information, please visit our English website at https://corp.kt.com/eng/.
SOURCE KT Corp.
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