Leading Philippine fiber internet provider Converge ICT Solutions Inc. (PSE: CNVRG) and South Korea’s KT Corporation (KRX: KT Corp) (NYSE: KT), formerly Korea Telecom, have agreed to pursue a potential business collaboration and partnership that will support the digital transformation of local businesses by providing innovative enterprise technologies.
Converge and KT Corp. on Monday (27 February 2023) signed a memorandum of understanding (MOU) that aims to extend digital tools and innovations to enterprises in the Philippines, and to explore new digital transformation solutions for the evolving needs of ICT customers.
The MOU signing was held at the sidelines of the Mobile World Congress in Barcelona, Spain. The agreement was signed by Converge President and Co-Founder, Maria Grace Uy, and KT Senior Vice President, Sunguk Moon.
Ms. Uy said that this potential partnership further manifests the mission of Converge to provide world-class services that will empower Filipinos and businesses for the development of the country.
“As businesses continue to move their operations online, the demand is strong for cutting-edge enterprise solutions that would enable their different business processes. This potential partnership with KT will allow us to co-innovate and deliver advanced technologies suited for the needs of Philippine businesses, especially small and medium enterprises (SMEs),” she added.
Both companies also plan to jointly pursue digital transformation solutions in the country, including a cloud-based video surveillance solution called Video Surveillance as a Service (VSaaS) and a transportation management technology, Mobility as a Service (MaaS), among others.
Converge CEO and Co-Founder Dennis Anthony Uy who was present during the signing ceremony, said the potential partnership will enable both companies to leverage each other’s expertise in information and communication technology for the delivery and development of enterprise-grade solutions.
“We are continuously working with global technology companies to provide augmented digital solutions that adapt to the requirements of our evolving business environment. We will continue to co-innovate with our partners as we strive to empower our local industries and help them unlock better opportunities and growth,” Mr. Uy noted.
KT CEO Ku Hyeongmo who also witnessed the MOU signing, said they are delighted to work with Converge as they seek to open more opportunities in the Philippines and contribute to the delivery of world-class innovations to local companies.
“We are thrilled to pursue this strategic partnership with Converge for the delivery of our leading-edge technology solutions to Filipino enterprises. We are one with Converge in championing digital democracy to improve the lives of their customers and we hope that through this venture, we could contribute further to the advancement of other industries in the Philippines,” said Mr. Ku.
KT Corporation is the leading telecommunications provider in South Korea that provides integrated wired and wireless communication solutions and services, spanning a wide range of industry use cases such as energy management, security and safety management, and financial technology, among others.
Also present during the MOU signing were Converge Chief Technology Officer Ronald Brusola and Chief Network Transformation Officer Paulo Martin Santos, ComClark Chief Operations Officer Benedicto Bulatao and MetroWorks President and Chief Operations Officer Miles Tonn Chua.