KT to work with Savills Korea to establish submarine cable in Asia-Pacific region

Kim Joo-heon Reporter() | Posted : Febuary 7, 2022, 15:08 | Updated : Febuary 7, 2022, 15:13

[Gettyimages Bank]

SEOUL -- Through collaboration with the South Korean branch of Savills, a global real estate services provider based in London, South Korea's top telecom company KT will build a 9,000 kilometer (5,592 miles)-long submarine fiber-optic cable network that will connect six Asia-Pacific region countries including South Korea, Japan and Singapore targeting rapidly growing demands for high-capacity data delivery infrastructure.
 
Submarine cables are key facilities that enable communication between countries and continents. About 90 percent of the data is delivered between countries using optical cables. According to global telecommunication equipment company Cisco, the world's annual Internet usage is projected to increase by 220 percent to 4.8 zettabytes in 2022 from 1.5 zettabytes in 2017. One zettabyte is one billion terabytes.  
 
KT said in a statement on February 7 that the company signed a memorandum of understanding with Savills Korea to establish and operate the submarine optical cable network. The two companies will also cooperate to secure global cloud and telecommunications service operators. While Savills Korea carries out asset management projects such as contracting, licensing and attracting investors, KT will be in charge of the construction and operation of the new fiber-optic cable network.
 
"Demand derived from services such as digital transformation-based cloud services and over-the-top (OTT) falls upon not only South Korea, but the entire Asian region and submarine cable industry is anticipated to expand even further," KT's enterprise division head Shin Soo-jung was quoted as saying. KT said there have been growing demands for the stable operation of submarine cables due to the popularization of OTT video services and digital transformation of companies. The global OTT market is expected to reach $1,039 billion by 2027.    
 
KT currently has the widest submarine cable infrastructure in South Korea including the Asia-Pacific Gateway. The cable was demonstrated in the 2018 Winter Olympics in the eastern ski resort of Pyeongchang to cover South Korea and eight other countries in the Asia-Pacific region.
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.