SEOUL, South Korea, April 6, 2020 /PRNewswire/ -- KT Corp. (KRX: 030200; NYSE: KT) announced the signing of a US$19 million contract today with Thailand's 3BB TV Co. Ltd. to provide commercial IPTV (Internet Protocol TV) service to the Southeast Asian kingdom.
3BB TV, an affiliate of Jasmine Group will combine its ultra-speed Triple T Broadband internet connection with the IPTV service. With the combination, the Jasmine Group expects to become Thailand's No. 1 telecom operator.
KT will provide its Thai partner with all necessary solutions and technology to commercialize IPTV service within Thailand in the latter half of this year. They include IPTV/OTT (Over the Top) solution, CDN (content delivery network), network optimization, advertisement/e-coupon/search/channel recommendation services, set-top box devices, and E2E service assurance solution.
The South Korean telecom giant said the contract was signed in a video link-up today. The signing ceremony as well as most preparatory negotiations had to be conducted online as travel restrictions due to the ongoing COVID-19 pandemic prevented travel and face-to-face meetings.
To maintain the launch schedule of the commercial IPTV service in Thailand, KT said that it will immediately embark on solution development in Korea. Installation of solutions and necessary tests will begin in Thailand as soon as the coronavirus crisis has been contained.
KT explained that, in view of the looming global economic downturn, it is seeking a long-term, growth-oriented service delivery strategy tailored to local circumstances.
KT and Triple T Broadband, also known as TTBB, signed a comprehensive IPTV consulting agreement in September last year. Based on its experience and know-how in IPTV business over 12 years, KT advised TTBB on network architecture, market differentiation and value-added services, displaying the potential returns from commercial IPTV service.
KT plans to provide an IPTV platform and set-top box design as well as media content. The latter will be optimized for TTBB's network environment and local customer preferences, reflecting UI/UX (user interface/user experience).
Through the Thai project, KT aims to utilize South Korea's advanced IPTV capabilities in expanding its overseas outreach and becoming Asia's top global media enterprise.
"This is a great opportunity to introduce our outstanding capability in IPTV business in the global market. For 3BB TV, we will provide all possible assistance so that it rapidly becomes Thailand's No. 1 IPTV provider," said Kim Youngwoo, head of KT's Global Business Office. "This project will enrich our experience, giving us a springboard to expand cooperation with internet providers around the world as a leading global media enterprise."
Subhoj Sunyabhisithkul, president of 3BB TV, said, "Jasmine Group has long aspired to commercialize IPTV service. We will succeed for sure. Beyond IPTV, we look forward to continued cooperation with KT in AI (artificial intelligence), GiGAeyes for smart security and other high-value platforms."
KT is South Korea's leading provider in IPTV service with 8.4 million subscribers. It offers high-quality media platform operations encompassing content production, channel organization and 24/7 real-time services. In partnership with top-tier local media solutions and device producers, KT possesses differentiated specialties in comprehensive IPTV solutions.
Jasmine Group is a major telecommunications group that is known for high-speed internet service. Founded in 1982, the Bangkok-based business group has 12,000 employees and its annual revenue amounts to 34.8 billion Thai Baht, as of 2019. Triple T Broadband, the group's sub-subsidiary, accounts for most of the revenue. 3BB TV Co. Ltd. is the group's IPTV provider.
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ABOUT KT CORP. (KRX: 030200; NYSE: KT)
KT Corporation, Korea's largest telecommunications service provider, reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company is leading the 4th industrial revolution with high speed wire/wireless network and new ICT technology. KT launched the world's first nationwide commercial 5G network on April 3, 2019, after successfully showcasing the world's first trial 5G services at the PyeongChang Winter Olympic Games in February 2018. This is another milestone in KT's continuous efforts to deliver essential products and services as it aspires to be the number one ICT Company and People's Company.
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