Korean Telecom Corporation Explores Investment Opportunities Down South


Two additional Memorandum of Understandings (MOUs) signed to strengthen Korean Telecom and IIB ties

KT Corporation (KT) formerly known as Korean Telecom signed two Memorandum of Understanding (MOU) with two wholly-owned subsidiaries of Iskandar Investment Berhad (IIB) namely Iskandar Innovations Sdn Bhd (IISB) and Iskandar Development Management Services Sdn Bhd (IDMS). The MOUs were signed by Datuk Akmal Ahmad, Sugu Maran Kailasan as Directors of IDMS, Azman Hussein, Johari Shukri Jamil as Directors of IISB, Kim Youngwoo, Senior Vice President, Head of Global Business Development and Kim Hoonbae, Senior Vice President, Head of New Media Business of KT.

Datuk Ir Khairil Anwar Ahmad, President/ Chief Executive Officer of IIB, witnessed the signing ceremony together with Nathan Byungki Oh, Senior Vice President, Head of Global Investment, KT at IIB’s corporate office in Medini, Iskandar Puteri, Johor.

The first MOU was signed between KT, IISB and IDMS on Smart Building and Smart Energy Business that would create the path in exploring Smart Building technology in Medini and Iskandar Puteri.

Korean Telecom Corporation Explores Investment Opportunities Down South
MOUs signed – L-R: Nathan Byungki Oh, Azman Hussein, Johari Shukri Jamil, Kim Youngwoo, Datuk Ir Khairil Anwar Ahmad, Datuk Akmal Ahmad and Sugu Maran Kailasan

KT and IISB also signed another MOU for Home Virtual Reality and Data Centre which would result in a collaboration to create unique propositions in high technology and modern living for residents and corporations in Iskandar Puteri in the near future.

Speaking at the MOU signing ceremony, Datuk Ir Khairil said, “IIB is committed towards driving the digital transformation agenda in Iskandar Puteri. We envision Iskandar Puteri to be a smart city of international standing where technology works seamlessly in everyday life, and we hope this collaboration would create unique value propositions for the development of the Iskandar Puteri ecosystem.”

These MOUs were signed after a successful joint venture between KT & IISB via the establishment of a Virtual Reality Centre of Excellence called VRinity which was launched at the Mall of Medini in Iskandar Puteri.

The KT delegation led by Kim Youngwoo, Head of Global Business Development during the signing ceremony mentioned, “We are excited to participate in the development of Iskandar Malaysia and to collaborate with IIB. KT would share knowledge and experience in bringing technology-driven development to this region both economically and socialy”.

The signing of the MOUs marks KT’s expansion of their business internationally as they continue to leave their footprints in Iskandar Malaysia, thus inspiring other Korean investors to look at Iskandar Malaysia as another attractive investment destination.