KT will invest a total amount of W200 billion (US$167.2 million) in the Green IT sector by the end of this year, while seeking mutually beneficial cooperation with its subcontractors for the realization of the Low Carbon, Green Growth vision and eco-friendly management.
This was disclosed during a presentation at the First IT CEO Forum held at the Grand InterContinental Hotel in Seoul on Sept. 24.
Some W61.2 billion (US$51.2 million) will be spent to merge 508 KT's nationwide branches into 50 integrated agencies. KT will also spend W53.3 billion (US$44.6 million) in Green IDC, W14.2 billion (US$11.9 million) in All-IP-based BcN, and W14 billion (US$11.7 million) in upgrading its electrical facilities.
KT will also expand cooperation with its subcontractors, ready to give them consistent support in their efforts to turn environment-friendly.
KT will persuade its 1,400 subcontractors to take part in investing in Green IT, while helping them obtain ISO14001 Certification. The telecom company is also set to transfer Green Technologies and patent license rights to some distinguished subcontractors.
It will also form a consortium with promising subcontractors to take part in a project to build a Smart Grid complex on Jeju Island.
The telecoms giant will also invest W15 billion (US$12.5 million) in taking part in the launch of a Gyeonggi Province-KT Green Growth Investment Association worth W30 billion (US$25.1 million) in cooperation with the Gyeonggi provincial government, a project for small and medium-sized venture firms in the province.