KT Drives Global Expansion with Europe's albis-elcon
- Signs MoU with albis-elcon for Global Expansion of GiGA Solutions
- Two Partners Also Pursue Joint Businesses on 5G, Platforms, AI, Etc.
SEOUL, South Korea, July 16, 2018 /PRNewswire/ -- KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, has made a successful a key foray into Europe and other international markets by partnering with albis-elcon, a Germany-based network equipment and solution provider.
The two companies signed a Memorandum of Understanding (MoU) for the strategic global partnership last week at albis-elcon headquarters in Hartmannsdorf, Germany. Senior executives, including Kim Hyung-Joon, KT's executive vice president and head of the Global Business Unit, and Werner Neubauer, chief executive officer of albis-elcon, attended the signing.
Under the agreement, KT will provide its GiGA solutions and next-generation technologies to communications service providers in Europe and other parts of the world through the global business network of its new German partner. KT's GiGA solutions are ushering in the next generation of fifth-generation (5G) infrastructure by introducing three technologies at home and abroad, including GiGA Wire, GiGA WiFi and GiGA LTE.
"This great partnership between KT and albis-elcon will provide a major bridgehead for our advances in the European and the global markets," Kim said. "We will step up efforts to expand overseas with our GiGA technology as well as 5G and our latest technologies, ICT-based platforms and solutions."
To pioneer the future of wireless technology together, KT and albis-elcon have also agreed to pursue joint business opportunities across the fields of 5G wireless technology, information and communications technology (ICT)-based platforms, and artificial intelligence (AI).
The Korean telecom leader is particularly interested in exporting of its GiGA Wire technology -- which does not require optical cable -- to European countries, where many sturdy and aging buildings are connected with copper lines. The new technology, developed in 2014, can offer a near-gigabit speed on copper lines.
KT also plans to expand its overseas sales of GiGA WiFi in partnership with albis-elcon. This technological breakthrough was first developed in 2015 and delivers a near-gigabit speed wireless network for homes and offices.
Albis-elcon is well positioned as KT's business partner, with 13 million of its network systems and equipment installed in more than 40 countries. It provides a wide range of products and solutions for copper and fiber broadband access, remote network powering, network management and Internet-based television. Deutsche Telekom, Telecom Italia and Telefónica are among the company's 100-plus clients.
"New products and new solutions require innovative ideas, solid technologies and detailed implementation to guarantee first-class user experiences. KT's outstanding expertise will enable us to actively drive the development of future networks, including the creation of new business models and operational excellence for our customers," Neubauer said.
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