Converge ICT teams up with South Korean telco giant for ultrafast internet
Converge ICT Solutions Inc. has partnered with South Korea’s largest telephone company KT Corp., LSI-Fibernet Konstruk Corp. and TE Connectivity Subcom to roll out high-speed broadband across the country over five years for $2 billion.
KT Corp. is Converge’s partner for the Luzon rollout while Fiber Konstrukt will help in the deployment of faster and more reliable internet in South Luzon, Visayas & Mindanao.
“We have set our sights to bring the best internet connectivity by starting in Metro Manila and some key provinces in Luzon. By going nationwide, we can do more rollouts and more installations in other islands in the Philippines, helping more people connect with one another through our infrastructure” said Dennis Anthony Uy, president and CEO of Converge.
Under the five-year program, the group aims to rech more than 13 million of the 22 million households nationwide, particularly the major islands in Visayas and Mindanao. The network backbones are expected to be completed by 2021.
Funding for the project will come from borrowings and equity.
Chua said Converge hopes to forge more partnerships in the future to widen its service portfolio.