KT, Softbank to set up joint cloud computing venture in Korea
SEOUL - YONHAP
South Korean telecom titan KT Corp. and Japan's Softbank Telecom Corp. will set up a joint cloud computing venture in South Korea later this year, the companies said Monday, aiming to tap into demand for reliable Internet storage systems that can protect companies' data from natural disasters. KT will hold a 51 percent stake and Softbank will own the remainder in the joint venture, which will be set up by September, they said in a joint press release.
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