[Yonhap Photo]
SEOUL -- South Korea's top telecom company KT will establish information and communications technology (ICT) infrastructure in an economic and trade zone near the banks of the newly-expanded Suez Canal in Egypt.
KT said in a statement Tuesday that it has signed a memorandum of understanding with Giga Global Telecom & Technology (GGTT), a multinational telecom and information technology company headquartered in Zurich, to cooperate in the establishment of ICT-based smart infrastructure on Egypt's Suez Canal.
The ceremony was held Monday at the administration building of Suez Canal Authority (SCA), a state-owned authority which operates and maintains Suez Canal. KT said it would upgrade wireless and wired communication infrastructure in the Suez Canal Economic Zone and expand its businesses such as security and energy in Egypt.
"KT's global presence will be improved if the smart infrastructure is built on Suez Canal, based on KT's superior innovation technology and know-how to upgrade Egypt's ICT competitiveness," KT CEO Hwang Chang-gyu was quoted as saying.
GGTT will manage KT-Micro Energy Grid (MEG), a smart energy management platform that uses big data-based artificial intelligence to collect and analyze data in real time, enhance efficiency and predict errors. GGTT will provide its management know-how and data analysis ability.
KT also signed a $8.7 million deal with GGTT to provide its GiGA Wire internet solution capable of delivering data with a maximum speed of 1Gbps using conventional telecom lines. The telecom company aims to provide the internet solution to Jordan, Sudan and Tanzania.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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