South Korean Telco Wins $47.3 Million PH Fiber Deal

South Korea’s KT Corporation announced this week that it was able to secure a $47.3 million contract with the Philippines’s Converge ICT Solution to build a fiber network along the main roads of northern region of Luzon.

The deal is only part of the $1.8 billion investment committed to by Converge to expand its broadband coverage all over the country within the next 5 years.

KT says that the deal will hopefully lead to others with the provider in the near future. The state-owned telecoms company, which is the largest in South Korea, has also been involved in optical fiber network projects in countries such as Myanmar and Bangladesh during the past few years.

Source: Telecom Asia

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