Aiming to become the world’s tech and telecommunication leader, KT Corp., a leading mobile carrier in Korea, rolled out a set of grandiose business plans to lead what it calls “the next industrial revolution,” over the next few decades.
Delivering a presentation at a press meeting on Wednesday, Hwang Chang-gyu, the chief executive of the mobile carrier, said it would lead to what he called “the fourth industrial revolution,” based on the advancement and convergence of information and communications technologies.
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| KT CEO Hwang Chang-gyu unveils its investment plans for convergence technologies in Seoul on Wednesday. (KT) |
“KT will establish an intelligent GiGA network infrastructure and create new businesses through ICT convergence to take the lead in the fourth industrial revolution in the nation,” said CEO Hwang, adding, “The fourth revolution will bring vitality and convenience to the lives of Koreans.”
The press meeting was held to mark the 130th anniversary of the adoption of communications technology in Korea on Sept. 28 and of the establishment of Hansung Telegram Office, the first state-run telegram agency that preceded KT.
The package of KT’s business blueprints for which the mobile carrier vowed to pour 13 trillion won ($10.9 billion) by 2020 include a portable all-in-one security dongle, smart energy solutions, an open Internet of Things platform, self-driving car systems, an IPTV set-top box and bioinformatics technology.
Showcasing some of the services and products of the business initiatives, including the world’s first network-based portable security dongle “Wiz Stick,” and comprehensive smart energy management solution “KT-MEG,” the KT CEO vowed to transform the company into an ICT firm that integrates future-oriented technologies utilizing the telecommunications infrastructure of the mobile carrier.
KT has been collaborating with global carmakers to develop autonomous vehicles connected to mobile networks and with network firms and tech giants including Samsung Electronics, Nokia and Telefonica to grow the IoT ecosystem.
The Korean mobile network operator, a board member of GSMA, a global organization for wireless carriers, has established the GiGA IoT Alliance, a group of market players committed to accelerating the standardization of the connected technologies.
Since Hwang took office in January last year, he has been pushing hard to invigorate the mobile carrier which has long been complacent in the status quo as the second largest mobile network operator in the nation.
He has streamlined the firm’s sprawling web of affiliates — which used to total 56 businesses in a number of different sectors including car rental last year — to 38 this year and carried out a large-scale restructuring to increase management efficiency.
The firm beat its rivals SK Telecom and LG Uplus in terms of the net increase of the number of mobile subscribers in the first half this year and topped the IPTV market during the same period.
KT was picked this month as the industry leader in both the fixed and mobile network markets by the Dow Jones Sustainability Indices, which evaluates business sustainability of the world’s leading companies in different industry segments.
By Kim Young-won (wone0102@heraldcorp.com)
