KT-Hanwha Techwin sign security business cooperation MOU
Business scope to expand in phases starting with video security sector in 2017

On the 21st, KT announced that it has signed a Memorandum of Understanding (MOU) with Hanwha Techwin (Security Division Head Lee Man-seop) at KT headquarters in Gwanghwamun, Seoul, to jointly pursue business cooperation in the convergence security field and develop mid-to-long-term business models.

Through this MOU, the two companies plan to cooperate in ▲the 'Video Safety' business that provides security services to individual and corporate customers through video devices such as CCTV ▲the 'Video Security Platform' field that provides video/IoT/big data analysis information using network-based distributed platforms. Additionally, from the initial stage of cooperation, both companies have decided to jointly develop mid-to-long-term business models with the global market in mind.

KT is concentrating the group's capabilities on video security business development and fostering new convergence businesses based on its extensive network infrastructure and world-leading big data, cloud, and IoT platforms. Additionally, in business cooperation with Hanwha Techwin, KT plans to leverage its nationwide sales and distribution infrastructure and customer care capabilities.

Hanwha Techwin is ranked No. 1 domestically in the video security equipment sector and possesses capabilities at the global Top 5 level. The company is leading the industry in self-developed chipsets as well as optical and intelligent video analysis fields, and has secured business/distribution bases across 103 countries worldwide.

Significant synergy effects are expected from KT, which possesses world-class network infrastructure and cloud and big data analysis capabilities, joining hands with Hanwha Techwin, which possesses global Top-level business competencies in the video security equipment sector. For example, in the mid-to-long term, combining wireless power equipment with 5G-based real-time video transmission infrastructure is expected to enable the development of next-generation wireless video equipment.

On this day, KT's Yun Gyeong-rim, Director of Future Convergence Business Promotion, stated "Based on the complementary core competencies of KT, Korea's leading ICT company, and Hanwha Techwin, a global leading security specialist, we will actively discover various markets in the convergence security field and work to expand added value for both companies' businesses while enhancing customer benefits. Furthermore, we will create new markets through cooperation between the two companies and expand them globally to establish ourselves as leaders in the security field."

Lee Man-seop, Head of Hanwha Techwin's Security Division, said "Business cooperation between Hanwha Techwin and KT is establishing a bridgehead for entry into new Safety businesses based on IoT new technologies. With this precious connection formed through business cooperation, both Hanwha Techwin and KT will cooperate and exchange more in the future, and based on this, we will challenge to become the No. 1 global video surveillance equipment market leader."