- KT's Nationwide LTE Project in Rwanda Introduced at 2018 KOAFEC -
- KT to Cooperate on Africa's Drive for ICT-Based Economic Growth -
SEOUL, South Korea, May 28, 2018 /PRNewswire/ -- KT Corp. (KRX: 030200; NYSE: KT), Korea's largest telecommunications company, said today it will expand cooperation with African countries in information and communications technology, based on its successful nationwide LTE network in Rwanda, a first in Africa.
KT, formerly known as Korea Telecom, disclosed its ICT support plans for African countries at the 2018 Korea-Africa Economic Cooperation (KOAFEC) Conference and the 53rd African Development Bank Annual Meetings, held on May 21-25, at BEXCO in Busan, South Korea. Business projects and success models in Africa were introduced at the KOAFEC's Public-Private Partnership (PPP) Forum.
As a panelist at the PPP Forum, Kim Hyung-Joon, head of the KT Global Business Unit, explained the company's nationwide 4G LTE network project in Rwanda, which was completed this month in cooperation with the Rwandan government, and emphasized the importance of ICT infrastructure for economic development in Africa.
"We will cooperate with African countries to pursue economic growth based on ICT as the Rwanda project has enriched our experience and gave us greater insight," Kim said. "KT's delegation actively exchanged opinions on a wide range of matters for business cooperation between public and private sectors in major African countries with their representatives to the conference."
Other panelists at the forum, held on May 24, included Sergio Pimenta, vice president of the International Finance Corporation; and Chang Young-Hoon, executive director of the Export and Import Bank of Korea. The forum discussed ways to promote cooperation between Korea and African countries for the Fourth Industrial Revolution and to improve smart infrastructure in Africa.
At the KOAFEC Development Indaba, held on May 22 at the outdoor stage of the Busan Cinema Center, a KT official shared his experience in undertaking cooperative projects in Rwanda and other African countries with a public audience.
KT also introduced its public-private partnership blueprint for constructing nationwide public LTE networks in Africa, eliciting considerable interest from participants, at the ICT Business Fair on May 23, organized by the African Development Bank.
The KOAFEC Conference, jointly organized by South Korea's Ministry of Strategy and Finance and Export-Import Bank of Korea with the African Development Bank, is the largest event in Korea for economic cooperation involving Africa. The Ministerial Round Table and the PPP Forum are the highlights of the conference.
The African Development Bank is a regional multilateral organization established in 1964 to promote sustainable economic development and social progress on the African continent. South Korea has increased cooperation and exchanges with its member countries since it joined the organization in 1982.
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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 4.5 million fixed lines for 20 million users 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.
SOURCE KT Corp.
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