KT Corporation, the largest telecommunication company in South Korea, is exploring the wide gamut of opportunities and benefits offered by blockchain technology through its subsidiary KT SAT. KT SAT is South Korea’s sole satellite communication operator. This is an attempt by the company to expand its presence into the satellite space.
At a company event entitled ‘2018 KT SAT Partners Day’ held on November 22, KT SAT Eco Alliance was launched. The Alliance is designed with the aim to develop collaborations with new business partners from varied fields. It seeks to explore potential benefits of integrating the satellite industry with new information and communications technology (ICT) firms related to 5G, cybersecurity, blockchain technology, and IoT, and thereby, overcoming the limitations of the industry.
Han Won-sik, KT SAT CEO commented, “In order to lead the domestic and global satellite market, we must continue to search for new services through new ICT convergence. We are actively supporting the Eco Alliance. We will look for business opportunities that can provide total solutions and platform services.”
In the event, KT SAT announced three joint development programs which include expanding partners’ business and supporting stable business activities, strengthening the business through practical support programs, and strengthening such partnerships with improved trading conditions. KT SAT is also planning to conduct multiple workshops, seminars, and debates focusing on the latest ICT fields, like password security, blockchain, and maritime satellite communication.
The company also informed that it would be introducing a ‘supplier certification system’ from the coming year in an attempt to identify probable partners and thereby, usher in tremendous growth in the rapidly changing satellite industry.
Some of KT SAT’s partners such as Waldo Systems, Global Cornet and I-Craft, have already expressed their interest in the supplier certification system by selecting ‘Development of satellite business using IT solution,’ ‘Proposal of new business of marine satellite service, and ‘Plans to announce satellite business proposals.’
Earlier this year in June, KT SAT Co announced that it was planning to offer its cutting-edge satellite services to Southeast Asian customers. While participating at the CommunicAsia 2018, the largest Asia-Pacific trade show for broadcasting and telecommunications, Hahn said,
“We are a global powerhouse in satellite communications, backed by our strong resources in technology and manpower as well as support from our parent KT Group, a leader in information communication technology (ICT). We want to demonstrate our prowess at CommunicAsia as a leading satellite operator for the global market.”