Bain Capital Exits Kioxia After AI-Fueled Valuation Surge 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices 
Venezuela Earthquake Death Toll Climbs to 3,811 as Government Seeks Sanctions Relief 
China Inflation Cools in June as Producer Prices Hit Four-Year High 
BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow 
European Regulators Clash With U.S. Treasury Over Private Credit Transparency 
Apple Tests China's CXMT Memory Chips as DRAM Maker Gains Global Market Share 
Lockheed Martin, Rheinmetall Plan First ATACMS Missile Production in Germany 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
Gold Price Rebounds as U.S.-Iran Tensions and Fed Minutes Keep Markets on Edge 
Oil and LNG Tankers Turn Back as Strait of Hormuz Security Risks Escalate 
Gold Prices Slip as U.S.-Iran Conflict, Fed Rate Hike Bets Pressure Precious Metals 
Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia 
Netflix, Disney, YouTube Eye FIFA World Cup TV Rights in Multi-Billion Dollar Battle 
OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says 
KT or formerly known as Korea Telecom has teamed up with the American IT giant Amazon Web Services for the expansion of its media and digital business. It was revealed that on Tuesday, June 8, the companies signed an agreement to work together.
KT’s chief executive officer, Ku Hyeon Mo, was said to be investing in non-telecom ventures, including artificial intelligence. In fact, it has already launched the AI One Team not long ago, and this was created for universities and local companies to cooperate for technology. As per The Korea Times, Seoul National University, KAIST, Hyundai Heavy Industries, and Construction, and LG Electronics are all part of this.
First foreign collaboration
It was noted that KT’s partnership with Amazon Web Services marks the first time that the company has struck a deal with a foreign company under Ku Hyeon Mo’s leadership.
"Through the partnership with global IT company AWS, we have established a foundation for future business growth," CEO Ku said in a statement. "We plan to enhance KT's corporate value and global competitiveness."
Based on the report, KT and the American subsidiary of Amazon that provides cloud computing platform services will work together on developing AI technology that could be useful for business-to-business (B2B) and business-to-consumer (B2C) trades.
This is a good team up because KT already acquired some experience in this line of business. The Korean company previously introduced its own AI Connect Center service that operates a call center that utilizes AI and data technologies.
KT and Amazon’s plan
The new business partners will be launching B2B services soon, and it will be using AWS's Omni Channel as well as Amazon Connect, a cloud-based contact center service. "KT and AWS will launch hybrid cloud services for B2B customers that will help in establishing a flexible management infrastructure," the telecom firm stated.
An official added, "We have a cooperative and competitive relationship with AWS in the cloud market and we will bring the optimum services to our B2B clients, which will be able to have more choices through the partnership."
Meanwhile, together with South Korea’s top science and technology university, KAIST, KT will be opening an AI research center. This is expected to be established by the end of this year, as per Yonhap News Agency.
