KT and Savills plan subsea cable linking 6 APAC countries

KT and Savills Korea announced plans for a new 9,000 km submarine cable system linking 6 countries in APAC: South Korea, Japan, Taiwan, Indonesia, Philippines, and Singapore.

Savills Korea and KT held an MOU signing ceremony at KT’s Songpa office building located at Songpa-gu, Seoul.  KT will conduct consulting based on its years of experience in design, construction, and operation of submarine cables. KT will also participate as a strategic investor. Savills Korea will be in charge of Asset Management, services such as business planning and implementation, attracting investors, contracting, and licensing. The partners are seeking support from global cloud operators and telecommunications operators.

KT also participates in the Asia-Pacific Gateway (APG) and New Cross Pacific Cable System (NCP) projects. 

Savills Korea is the South Korean branch of Savills, a global real estate service provider established in 1855, and provides consulting services in commercial real estate businesses, including data centers. Savills Korea was involved in data center transactions with a total of 140WM in the Seoul metropolitan area, including two data centers established and operated by a joint venture between Equinix and GIC, Singapore's sovereign wealth fund.

Crystal Soojeong Lee, CEO of Savills Korea commented “The partnership with KT is a fruit of our consistent effort to broaden the extents of services we provide. Unprecedented synergy effect is expected through Savills’ abundant network and KT’s professional technology.”

Soo-jung Shin, the head of KT Enterprise added “Demand derived from services such as DX-based cloud services and OTT falls upon not only South Korea, but the entire Asian region and submarine cable industry is anticipated to expand even further. We look forward to reinforcing our hegemony in the market in cooperation with Savills Korea.”

https://en.savills.co.kr/insight-and-opinion/savills-news/205201/20220207-savills-kr---kt-mou

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