December 31st, -0001
KT Corp. And Asia Broadcast Satellite... Band-tastic! (Contract)
This will mark the third successful transaction between the two organizations in just over 12 months with the earlier agreements for the sale and purchase of two Koreasat satellites. The ABS-2 satellite will be one of the most powerful commercial satellite to be launched in the Asia Pacific region with nearly 12 kilowatts of payload power and up to a total of 74 active Cband, Ku-band and Ka-band transponders across 8 different beams and will be launched in early 2013. ABS-2 is specifically designed for a wide range of services including DTH, Cable TV distribution, VSAT services, Data networks and Telecommunications services. ABS-2 will provide expansion capacity to existing ABS-1 customers, and will also act as in-orbit spare and provide backup for the ABS-1 transponders.
Present at the signing ceremony were Mr. Sung Man Kim, Senior Executive VP of KT Corporation and Mr. Tom Choi, Chief Executive Officer of ABS along with representatives from both companies.
Mr. Sung Man Kim, Senior Executive VP of KT Corporation said “This Condosat Agreement will strengthen KT's satellite business with a view of better support on its customers who are in need of global connectivity. Thanks to this additional capability, KT could serve around 66 countries with the umbrella of KT's combined satellite fleets.”
Mr. Tom Choi, CEO of Asia Broadcast Satellite said “Just over a year ago in early July 2009, we concluded our first successful transaction with the KT Satellite Group to acquire Koreasat-2. Within the 12 short months that we've had the pleasure of working with the KT team, we have been able to successfully complete our third transaction together, which truly signifies our close partnership with KT. We continue to be committed to supporting and working closely with KT to successfully develop future opportunities together."