South Korea's KT Exports K-Pop Contents via 5G

Rhea-AI Summary

KT Corp. (KRX: 030200; NYSE: KT) has launched a new 5G-powered service to stream live K-pop performances to audiences in Hong Kong, following a contract with China Mobile's Migu. This service is part of a collaboration that started in 2019, aiming to enhance the global reach of K-pop through high-definition streaming. KT also plans to expand this service throughout Asia and provide various global sports contents. The company continues to build partnerships with international music platforms, showcasing its commitment to promoting K-pop globally.

Positive

• Launch of a 5G-powered service for live K-pop streaming expands KT's market presence.
• Collaboration with China Mobile's Migu enhances KT's content distribution capabilities.
• Plans to target more Asian markets increases potential revenue streams.
• Partnerships with major music platforms diversify content offerings.

Negative

• None.

SEOUL, South Korea, July 22, 2020 /PRNewswire/ -- KT Corp. (KRX: 030200; NYSE: KT), South Korea's largest telecommunications company, announced that it is now streaming live performances by K-pop idols aspiring for global stages to Hong Kong audiences.

The new 5G-powered service began under a contract on content sale that KT signed on July 15 with China Mobile's music subsidiary, Migu, the leading Korean mobile carrier said.

The contract is an extension of a 2019 memorandum of understanding on collaboration in services of 5G-based new media contents. KT is the first Korean 5G network carrier to export Korean pop music and other digital entertainment contents via China Mobile's subsidiary.

In December 2019, KT's 5G network began global broadcasts of K-pop groups on its "KT Live Stage" program. Since then it has relayed seven live programs each month to audiences in Korea via Seezn – KT's OTT streaming service – and in Hong Kong via Migu's platform. Those KT Live Stage programs also have been repackaged into VOD format to export.

FarEasTone, a Taiwanese telecommunications company with much interest in high-definition streaming of K-pop contents, also provided its clients with free viewing of KT Live Stage.

KT has collaborated with music promoters and producers in producing the VR contents of all K-pop artists who participated in KT's earlier live broadcast programs. AR effects also have been added. The VR contents have been drawing keen attention from K-pop fans around the world.

The KT stage lineups range from new K-pop artists who are aiming for global markets to idol groups that have already established fandoms worldwide. K-pop fans around the world continue to follow up their performances with tweets and other SNS messages.

KT plans to further expand its live streaming service, targeting a growing number of Asian countries sharing interest in K-pop contents.

The telecom giant also plans to provide its domestic clients with a variety of global sports contents via Seezn, including those of the Chinese Volleyball Super League, or CVL.

Kim Hoon-bae, KT's Executive vice president for Customer New Business Unit, says the contract to sell Korean-produced entertainment contents to Migu is the result of the telecom provider's efforts to help promote the global reach of K-pop contents through its live streaming and other services.

As Kim noted, KT's subsidiary Genie Music signed contracts on the provision of K-pop contents with Tencent Music Entertainment Group and FUGA in May this year.

Tencent Music Entertainment Group, a company that develops music streaming services for the Chinese market, and FUGA, a Netherlands-based music technology and services company, were the latest additions to the list of Genie Music's some 50 overseas partners.

Among other partners are Amazon Music and TIDAL in the United States; Anghami, the Middle East; Yandex Music, Russia; JioSaavn, India; and Qobuz, France.

In April this year, KT also agreed with three global content platforms – HBO, VIKI and ODK – to provide them with "The First Shot," a low-budget web movie, which Seezn had planned and financed.

Kim says the KT-Migu deal will help the Korean mobile carrier provide global audiences with a variety of original contents as well as K-pop contents.

HBO and its subsidiaries are scheduled to broadcast "The First Shot" in 13 countries across Southeast Asia and South Asia in October. VIKI and ODK aired the movie in North and South America, Europe, Oceania and the Middle East in April.

##### End #####

MEDIA CONTACTS

For inquiries, please contact our Global Media Relations Team at kt.gmrt@gmail.com

ABOUT KT CORPORATION (KRX: 030200; NYSE: KT)

KT Corp., Korea's largest telecommunications service provider, reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company is leading the 4^th industrial revolution with high speed wire/wireless network and new ICT technology. KT launched the world's first nationwide commercial 5G network on April 3, 2019, after successfully showcasing the world's first trial 5G services at the PyeongChang Winter Olympic Games in February 2018. This is another milestone in KT's continuous efforts to deliver essential products and services as it aspires to be the number one ICT Company and People's Company.

For more information, please visit our English website at https://corp.kt.com/eng/

View original content to download multimedia:http://www.prnewswire.com/news-releases/south-koreas-kt-exports-k-pop-contents-via-5g-301097686.html

SOURCE KT Corp.

FAQ

What is KT Corp's latest initiative related to K-pop live streaming?

KT Corp has launched a 5G-powered service to stream live K-pop performances to Hong Kong audiences.

When did KT Corp sign the contract with Migu for K-pop streaming?

KT Corp signed the contract with Migu on July 15, 2020.

How does KT Corp plan to expand its live streaming services?

KT Corp plans to expand its live streaming service to more Asian countries interested in K-pop.

What platforms is KT Corp collaborating with for K-pop content?

KT Corp is collaborating with platforms like Tencent Music Entertainment Group and FUGA for K-pop content.

How many K-pop programs does KT broadcast monthly?

KT broadcasts seven live K-pop programs each month.