BUSINESS

KT taps into global market with partners

By Kim Young-won
  • Published : Jun 2, 2016 - 13:44
  • Updated : Jun 2, 2016 - 13:44
Telecommunications network operator KT has been trying to bring homegrown network technologies to the global market.

In line with such efforts, the Seoul-based telecom firm participated in CommunicAsia 2016, a telecom trade show held through Friday in Singapore, along with some of its partner companies.

Jung Seok-keun (first from right), chief executive of Korea Optron, poses with Benjamin Ong, CEO of fiber optic products company Masstron, after signing a contract at the CommunicAsia trade show in Singapore on Tuesday.(KT)

The seven partners include Korea Optron, a developer of fiber optic distribution systems, Lightworks, a network access solution developer, and FRTek, a light emitting diode solution firm.

Security solutions firm Everspin and network module developer TechPLEX are fledgling tech firms being nurtured at the Gyeonggi Center for Creative Economy and Innovation, a start-up incubation center run by KT and the Gyeonggi Province Government.

During the trade show, KT let the companies use part of its exhibition space to display their products and services, and have business meetings with global buyers.

Korea Optron and AJ World, a network component developer, have secured supply contracts -- worth 3.5 billion won ($2.9 million) and 2.5 billion won, respectively -- with global buyers.

“In order to compete with Chinese companies boasting low-price products in the network sector in Southeast Asia, promotion activity for technology is the most important,” said Jung Seok-keun, the chief executive of Korea Optron, adding that participation in the trade show with KT gives Korea Optron an opportunity to seek businesses in Southeast Asia.

KT intends to run more support programs for small and medium-sized firms to enter global markets.

By Kim Young-won (wone0102@heraldcorp.com)