▶ KT SAT provides MVSAT in the Japanese market, the world's third largest ship owning nation
▶ Up to 2021, KT SAT targets to provide MVSAT to 300 vessels in Japanese market ∙ Sales target of USD 27 million
Korea's only satellite operator, KT SAT (https://www.ktsat.net), announced on Aug 30th that it has signed a partnership agreement with Hun’s Corporation, a Japanese ship network supplier, for distribution of MVSAT(Maritime VSAT, unlimited maritime satellite Internet with high speed) in Japanese market. KT SAT now enters Japanese maritime VSAT market and provides MVSAT, which enables seamless global communication for vessels owned by Japanese shipping companies, starting in September.
Hun’s Corporation is specialized in supply and maintenance of ship network, and Hun’s provides its service to more than 900 vessels from 53 companies in Japan. Through this agreement, Hun’s will be the official sales agent of KT SAT in Japan and will be in charge of MVSAT service distribution. KT SAT provides MVSAT service and technical support to Hun’s contract customers.
Japan has 4,187 controlling vessels, which is about 2.5 times that of 1,635 in Korea, which makes it the third largest global ship owning country after China and Greece(Based on last year’s research of ISL(Institute of Shipping Economics and Logistics). Japanese maritime telecommunications market is dominated by global satellite operators and Japanese telcos such as KDDI.
KT SAT plans to successfully penetrate Japanese market with more reasonable service rates and superior quality control compared to other companies. KT sat aims to earn USD 27 million with 300 vessels on MVSAT service in the Japanese market until 2021.
Mr. Won-sic Hahn, CEO of KT SAT said, "The signing of the partnership with Hun’s is meaningful. As it expands the market coverage of KT SAT, which was limited in Korea, and now KT SAT has entered the global MVSAT market." “This partnership is a stepping stone of KT SAT’s penetration of Maritime VSAT markets around the world - of countries with successful maritime logistics industry such as Singapore, Taiwan, Hongkong, and we will lead the global MVSAT business"