KT collaborates with Igis in data center business in Uzbekistan

KT Corp. has joined hands with Igis Asset Management Co. at seeking internet data center (IDC) business opportunities in Uzbekistan.

Under the partnership, KT will provide its know-how and technology solutions while Igis Asset Management, the country's top real estate investor, will be raising funds and assessing business project feasibility.

The two sides will also explore IDC business opportunities in other countries.

KT, South Korea's leading telecommunications firm, expects promising IDC business opportunities in Uzbekistan after ascertaining the business environment following last year's demonstration service through East Telecom LLC.

KT's first-quarter net profit plunged to 226.6 billion won, down by 12.8 percent from the previous year. It attributed its first-quarter business results from decreased earnings of its credit card and hotel affiliates.