Aegis Asset Management Partners with KT to Enter Overseas Data Center Market

[Asia Economy Reporter Minji Lee] Aegis Asset Management announced on the 17th that it signed a Memorandum of Understanding (MOU) with KT at the KT Gwanghwamun Building for 'Uzbekistan IDC (Internet Data Center) Business Development Cooperation.'

Photo by Aegis Asset Management

According to the agreement, Aegis Asset Management will be responsible for tasks necessary for attracting investment, such as establishing the business investment participation structure and evaluating the feasibility of global expansion projects. KT will provide comprehensive solutions including consulting, design, construction, maintenance, and marketing for the Uzbekistan IDC business.

Aegis Asset Management, Korea's leading real estate asset management company ranked first in domestic real estate management scale and third in Asia's real estate management scale, plans to actively enter the global data center business through this agreement.

Before fully launching this global business, KT has been providing IDC pilot services in Uzbekistan through East Telecom since 2019. Through this, the company confirmed the success potential and customer demand for the Uzbekistan IDC business and discovered business opportunities to expand into related markets.

East Telecom is a wired and wireless telecommunications operator in Uzbekistan that provides high-speed internet and LTE services, in which KT acquired shares in 2007. KT is the number one domestic company that has been promoting IDC business for over 20 years and owns 13 data centers nationwide.

Kang Young-gu, CEO of Aegis Asset Management's CM division, said, "Data centers are an attractive real estate sector with high mid- to long-term growth potential. In addition to the Uzbekistan IDC business, we will jointly explore various business opportunities with KT and actively enter the overseas IDC market led by American REIT companies such as Equinix."

Kim Young-woo, head of KT's Global Business Division, stated, "The Uzbekistan IDC business is our first overseas expansion through cooperation with investors, and we will promote systematic execution by expanding domestic business capabilities overseas in the future."

This content was produced with the assistance of AI translation services.