Korea Telecom chairman Hwang Chang-gyu unveiled an ambitious plan to generate KRW 2 trillion ($1.6 billion) of sales in its global business operations by 2020. Growth, he said, would be driven by its GiGA range of wireless and fixed-line technologies, including 5G.
“I forecast a future that will be shaped by 5G,” he said. “Leaders who envisioned the same future have promised cooperation for 5G. KT will strive to further develop 5G through global cooperation.”
The firm outlined three key strategies to become “Global Number 1”: acceleration of core business operations, such as ICT convergence; expansion of the global market for GiGA solutions; and increased investment in overseas business operations.
KT pointed to a range of projects and partnerships already in place. In 5G, the operator is aiming to “lead the establishment of international standards” by hosting the world’s first “5G Olympics” in 2018.
The firm said it had already collaborated with Ericsson to successfully transmit data at 25Gbps in a wireless Internet environment. The tie-up with Ericsson, said KT, was part of an effort to become a leading provider of 5G, which is a cornerstone of its “GiGAtopia” vision.
KT’s business for ICT convergence is also expanding through the establishment of intelligent remote meter reading in Uzbekistan, the setting up an integrated security network in Rwanda, and signing an agreement to build a hologram in Sentosa, Singapore.
As part of its aim to take its GiGA solutions abroad, KT said it reached an agreement to export GiGA LTE to Turkey. At Congress, KT signed an MoU with the local government of Cataluna to provide its GiGA Wire service.
KT also signed an MoU with the Bangladeshi government and the International Organization for Migration to build the first ‘global GiGA Island’ in Maheshkhali, Bangladesh.
KT calls the Maheshkhali project a “GiGA Story”, which is designed to enhance educational opportunities, cultural activities, medical services, and economic opportunities for residents living in remote areas, including islands and mountains, by providing high-speed Internet and customised ICT solutions.