KT announced on Aug. 4 that it signed an MOU with Korea Overseas Infrastructure & Urban Development Corporation (KIND) to cooperate in developing global data center business at KT's Gwanghwamun Building in downtown Seoul.
KIND is a support organization for overseas investment development projects. It helps South Korean companies win overseas infrastructure projects by providing information, consulting, and supporting investment.
Through this MOU, the two companies will jointly seek to enter the overseas market of KT's data center business through joint development of overseas projects, exchange of information on overseas projects, discovery of business models, development of projects, and consultation on financing.
Along with this, they are planning to expand the scope of business such as Smart City Project.
KT is in charge of designing and planning data center business, product design and business management based on its No. 1 capability in South Korea's IDC business.
KIND is in charge of supporting business development such as discovering demand for new data centers, sharing business information, attracting investment and financial support in connection with projects being promoted in foreign countries.
"KIND will also enter new data center businesses," said Huh Kyung-koo, president of KIND. "We will be able to support Korean companies more efficiently through cooperation between the two companies."
"With this MOU, Korean companies will be able to use ICT resources in foreign countries as they do in Korea," said Park Yoon-young, head of KT's corporate division. "We will continue to expand KT's various domestic business capabilities globally through cooperation with KIND."
