KT committed to nurturing tech startups

The Korea Times

The Korea Times

Business

Wed, September 27, 2023 | 16:40

KT committed to nurturing tech startups

Posted : 2014-09-24 18:35

Updated : 2014-09-24 18:40

KT CEO Hwang Chang-gyu speaks about "GiGAtopia," the company's new vision to provide integrated, ultrafast Internet services linking diverse fields such as health, media and transport, during a media session at KT's main office in Seoul in this file photo. / Courtesy of KT

By Bahk Eun-ji

KT, the nation's second-largest mobile telecom carrier, has pledged to nurture technology startups.

It said its GiGAtopia strategy, led by CEO Hwang Chang-gyu, will be an essential element in achieving its goal to spur the establishment of small but competent startups.

GiGAtopia is an idea to connect everything through ultrafast and ubiquitous networks. It aims to link five future-oriented services ― transport, energy, healthcare, integrated security and next generation media.

KT will establish a GiGA network that will provide an Internet service about 10 times faster than the current one by 2017.

In order to build up the eco-system for the GiGAtopia, KT will build a foundation to help foster tech startups.

It will also make efforts to make the government-initiated "Creative Economy Innovation Center" in Pangyo, Gyeonggi Province, as a venue where it can carry out research and development activities with the startups.

KT seeks to create more jobs through collaboration with startups in the information and communication technology (ICT) sector.

"KT will do its utmost to create more jobs to help realize the government-initiated creative economy by supporting promising startups," said a KT official.

The Creative Economy Innovation Center at Techno-Valley will be the place where tech companies can strengthen their competence and eventually contribute to the economic growth," the KT official said.

KT has already suggested the vision for the creative economy through the Klive service. Klive is a hologram theater that opened in Dongdaemun in Seoul. It is a joint work of YG Entertainment, the government, and KT.

Klive is a tool for creating a new market by blending K-pop content and KT technology.

The company has given opportunities to disadvantaged female workers ― those from multiracial families, North Korean defectors and disabled women ― to establish own businesses.

KT provides the seed money for the women selected in an open competition for creative business ideas. It has selected 13 women and it will provide 120 million won to them to start their business.

It has also opened the "Dongja Hope-sharing Center," and ICT center for the underprivileged in Dongja-dong, a slum town in Seoul, as part of the company's social contributions. The center offers facilities and vocational training for the town's.

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