Thuraya Signs First Agreement in Asia-Pacific with South Korean Company
DUBAI, UAE, April 20, 2007 - Satnews Daily - UAE-based Thuraya Satellite Telecommunications Company has signed its first service-provider agreement in Asia-Pacific with Asia Pacific Satellite Industries, Ltd (APSI), a South Korean provider and manufacturer of satellite-based solutions and products. APSI is partly owned by Thuraya.
APSI manufactures a variety of satellite-related ground equipment including handheld terminals, receivers and transmitters. APSI makes Thuraya's second-generation products, including the world's smallest and smartest satellite handsets, the SO-2510 and SG-2520. Thuraya said the deal with APSI lays the foundation for more strategic partnerships in the lucrative East Asian markets.
The agreement makes APSI the sole provider and distributor of Thuraya products and services in South Korea, a leading Asian market for telecommunications and broadcasting services. Under the deal, APSI will promote, market, sell and provide all customer care aspects for Thuraya's users in South Korea.
Thuraya also signed a Memorandum of Understanding with APSI that sets the stage for broader future cooperation between the two companies in the manufacturing and innovation of Thuraya products and services.
Thuraya CEO Yousuf Al Sayed and APSI president and CEO Dr. Jang Soo Ryo signed the agreements in Seoul. Other senior executives, including Thuraya's Chief Commercial Officer Sultan Al Ghafli, attended the ceremony.
Al Sayed praised the agreements and APSI, saying Thuraya is pleased to expand its already excellent commercial partnership with APSI to the commercial and distribution field. “As the manufacturer of Thuraya's widely acclaimed handheld terminals, APSI is already well-known in the mobile satellite industry, producing high-quality and innovative gadgets," Al Sayed noted.
Dr. Jang said these agreements would take the Thuraya/APSI partnership to higher levels, enabling it to expand its current business portfolio to include the provision of satellite telecom services to Korean businesses and individuals. “We know the Thuraya business very well and we are already their technology partners,” Dr. Jang said. "The new commercial relations will mean a lot of leverage for both companies”.
Thuraya is a regional satellite phone provider, mainly focused on Europe, the Middle East and Africa. Thuraya has two in orbit geostationary communications satellites: Thuraya-1 and -2. A third satellite is planned for launch this year.
The Thuraya mobile communications system serves a region of 2.3 billion people. The system began commercial operations in mid-2001. Sea Launch successfully orbited Thuraya-2 in June 2003. The Thuraya company exercised an option to order Thuraya-3 as a ground spare.
