KT to invest W142.7b in green IT

KT announced yesterday plans to invest 142.7 billion won ($119.2 million) in green IT this year, jumping on the green bandwagon.

The investment will include 53.3 billion won for internet data centers; 14.2 billion won for all IP-based broadband convergence networks; and 14 billion won for the replacement of power facilities, KT president Pyo Sam-soo said.

The nation`s top telecom firm also aims at cutting its carbon emissions by 20 percent in 2013 from its 2005 levels by reducing use of electric power and increasing use of eco-friendly energy.



"KT will secure growth engines by making continuous investments in green businesses such as smart grids and green internet data centers," Pyo said.

The plan was announced at the first IT CEO forum held by KT to promote cooperation with small and medium-sized enterprises. The forum, which will be held bi-monthly, will bring together executives of KT and its partner firms, KT said.

KT also joined hands with Gyeonggi Province to form a 30 billion won investment fund for SMEs in the green growth fields in the region. KT looks to spend half of the 30 billion won needed for the fund.

KT will also team up with SMEs to form a consortium to participate in smart grid demonstration projects.

KT opened a homepage for the forum, offering IT reports as well as other premium IT contents and allowing SMEs to propose their ideas.

(hjjin@heraldm.com)

By Jin Hyun-joo