KT and NTT sign MOU to jointly search and develop new business opportunities
July 2, 2008
TOKYO -- KT and NTT announced today that they signed a memorandum of understanding (MOU) to search and develop new business models which will enable both companies to expand into new businesses as true global leaders in IT industry.
Purpose of the MOU
To establish a collaborative network among KT, NTT, venture capitals and start-up companies;
To introduce new business models and technologies;
To develop and promote specific services through equity participation in cooperation with start-up companies as the case may be.
As a first step to search and develop new business models, a kick-off "KT-NTT Venture Forum" was held in Palo Alto, CA, (Silicon Valley), on July 1st 2008. There were lively discussions with 12 start-ups, keynote speeches by CTO of KT and NTT, and plenty of networking available to many participants.
NTTPC Communications Inc.
KT Corp.
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