Friday, May 17th, 2013
SEOUL, KOREA - KT Submarine, a company specializing in the construction and maintenance of submarine cables, said on May 15 it has signed an agreement with Japan's NEC to install underwater fiberoptic cables in the Asia-Pacific region for the latter. The contract amount is estimated at 40.6 billion won.
The project is part of a wider plan to connect communications networks crisscrossing the nine countries in the region including China, Taiwan, Japan, and Korea. Currently a consortium consisting of 13 Asian telecom companies such as NTT Communications and China Telecom is in charge of the whole endeavor. Of this, KT Submarine will be responsible for installation jobs using specially-equipped vessels.
Lee Jae-Ryun, CEO of KT Submarine, said, "The latest deal is an international endorsement on our capabilities in the area of undersea cable installation and maintenance for the past 19 years."
