KT CEO Kuonmo Koo Announces Transition to Platform Operator
Aiming for No.1 in B2B Digital Innovation Market by Uniting ABC Capabilities
On the morning of the 28th, KT CEO Koo Hyun-mo introduced KT's business strategy, focusing on becoming a digital platform company and targeting the B2B (business-to-business) market, at the 'Digital-X Summit 2020'. [Photo by KT]
[Asia Economy Reporter Seulgina Jo] "We will change the paradigm of South Korea's industry."
Decoupling from telecommunications was not the end. From the moment of his inauguration, KT CEO Koo Hyun-mo, who announced a transformation from the outdated framework of a telecommunications operator to a platform business operator, has put forward "South Korea's Digital Transformation (DX)" as a new key agenda. At the center is KT's differentiated platform based on so-called 'ABC'?Artificial Intelligence (AI), Big Data, and Cloud. Through this, KT aims not only to remain in existing business areas such as mobile and IPTV but also to lead innovation in other industries in the B2B (business-to-business) market, known as the "land of opportunity."
Launch of B2B Brand 'KT Enterprise'
On the 28th, at the 'Digital-X Summit 2020' held at the Grand Intercontinental Seoul, CEO Koo unveiled the new B2B brand 'KT Enterprise,' stating, "KT's AI, Big Data, and Cloud-based platform services are being applied across many industrial sectors, contributing to the discovery of new growth engines."
The slogan of KT Enterprise, presented by CEO Koo, is "Digital Transformation Partner." This is interpreted as a declaration to accelerate the discovery and expansion of the B2B DX market based on KT's ABC platform. At his first official press conference six months after taking office, CEO Koo added, "This is a turning point and a solid leap forward that will become the firm foundation for the next 100 years of KT."
The global DX market is expected to grow at an average annual rate of 23%, reaching $2.3 trillion (approximately 2,600 trillion KRW) by 2023. According to market research firm IDC and others, only 20% of domestic companies had plans to apply DX as of last year, but this is expected to expand to 80% by 2023. This is why KT's ambition to become the number one company in the domestic B2B DX market, which holds limitless opportunities, is not seen as a mere declaration.
KT, which has been rapidly advancing its decoupling from telecommunications in recent years, has intensified its B2B market strategy as a platform business operator since CEO Koo's inauguration earlier this year. To expand the B2B DX market, KT has discovered successful models in seven major sectors including finance and logistics, and plans to further spread DX business to regions and small and medium-sized enterprises, aiming to lead exemplary cases of the Korean New Deal. A KT official explained, "Our policy is to pioneer new business models and expand the national B2B DX ecosystem through a win-win strategy encompassing large corporations, SMEs, and venture companies."
Launch of DX Platform Combining ABC Capabilities... Territorial Expansion
As the number one cloud service provider in Korea, KT will launch the 'KT DX Platform' next month, linking innovative services such as AI, Big Data, and Blockchain. This is also part of an aggressive B2B business expansion. The KT DX Platform allows flexible provision of specialized services by connecting third-party solutions on a single platform regardless of the customer's business size, location, or industry.
Marking one year since declaring itself an 'AI specialist company,' KT is also accelerating its dominance in the service robot market with patrol robots and companion robots. In the medical field, KT is building a platform to flexibly respond to surging demand and is entering the AI healthcare business. The company aims to develop a non-face-to-face medical imaging solution called 'KT Medical Makers' (tentative name) to support one-on-one remote consultations, remote collaborative diagnosis among medical staff, and to establish next-generation medical service environments such as home AI healthcare.
In the Big Data sector, KT plans to lead national data projects by providing free commercial district information analysis to 6 million self-employed individuals. Additionally, KT is preparing to launch a 'Cloud One Team' (tentative name).
CEO Koo emphasized, "KT's strategy to leap forward as a digital platform company and target the B2B market is supported by 'ABC+X' capabilities and experience, which combine network infrastructure superiority and ABC technology with specific industry sectors to create business value." He added, "We will lead innovation in other industries and realize South Korea's 'DX Dream.'"
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