KT Corp. Launches Task Force for Inter-Korean Cooperation

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SEOUL, South Korea, May 22, 2018 /PRNewswire/ -- KT Corp. (KRX: 030200) (NYSE: KT) has created a special task force to support inter-Korean economic cooperation and expand exchanges in information and communications technology (ICT) following the landmark summit between North and South Korea last month.

South Korea's largest telecom company said today that the task force will operate directly under the president of its corporate planning group to support the South Korean government's joint economic projects with North Korea and prepare a comprehensive plan for software development and other inter-Korean ICT cooperation.

KT plans to provide infrastructure for inter-Korean economic cooperation and exchanges in many other fields, utilizing its experience in projects involving North Korea, including offering communications service at previous summits between leaders of the two Koreas. This initiative will start with assisting the operation of the joint industrial complex in Kaesong and the cross-border tourism to Mt. Kumgang, both in North Korea, as soon as these stalled projects resume, the company said.

To facilitate inter-Korean exchanges, KT is considering restarting joint research and development with the Korea Computer Center under the North's Samcholli General Corp., which began in 2004. It will also promote programs to educate North Korean IT workers and utilize the workforce under consultation with the concerned authorities of both Koreas.

On the humanitarian side, KT especially plans to support reunions of families separated by the Korean War under preparation by the South Korean government. It is considering an array of innovative measures, such as reunions using virtual reality (VR) and hologram technology; provision of satellite Internet access in rural areas around North Korea via KT's satellite network; and improvement of communications standards.

In December 2005, KT opened a branch in the Kaesong Industrial Complex to install about 700 private communications lines connecting the two Koreas and offer communications services to South Korean companies operating in the industrial park for the next 10 years. It also secured a 50-year lease on 10,000 square meters of land within the complex from the North Korean authorities for construction of a telecommunications building, as well as a light cable network connecting the two Koreas.

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SOURCE KT Corp.