KT to Collaborate on Renewable Energy Joint Development

[Asia Economy Reporter Koo Chae-eun] KT has signed a Memorandum of Understanding (MOU) for the joint development of renewable energy to create a ‘Smart Green Industrial Complex’ together with Korea Hydro & Nuclear Power and Korea Industrial Complex Corporation.

According to KT on the 27th, the ‘Smart Green Industrial Complex Creation’ project aims to transform existing industrial complexes into low-carbon, eco-friendly energy production bases. This project is one of the top 10 representative tasks of the ‘Korean New Deal’ initiative, which seeks new growth engines to overcome the COVID-19 crisis and adapt to the post-COVID era.

Under the MOU, the three parties agreed to cooperate in installing fuel cells in aging industrial complexes and expanding the ‘Smart Green Industrial Complex Renewable Energy Project’ nationwide. In particular, KT plans not only to develop renewable energy projects such as fuel cell power generation but also to build and support the operation of an AI technology-based smart energy platform for the ‘Smart Green Industrial Complex.’

Park Yoon-young, President of KT’s Enterprise Division, stated, “The pace of transformation into low-carbon, high-efficiency eco-friendly industrial complexes through the convergence of green energy and digital technology is accelerating.” He added, “KT will play a significant role in the digital transformation of future smart green industrial complexes by expanding renewable energy projects that combine powerful wired and wireless networks such as 5G and ultra-high-speed internet with ICT solutions including AI, Big Data, and Cloud.”