Asia Global Crossing Completes Northern Ring of East Asia Crossing With Landing in Korea
- Korea landing marks East Asia Crossing northern ring on-time Q3 2001 completion
- East Asia Crossing is the first private cable system to land in Korea
- DACOM Crossing has already obtained a Network Service Provider (NSP) license that allows them to own and operate telecommunications infrastructure facilities in Korea
SEOUL, South Korea, Oct. 11 /PRNewswire/ -- With the landing and lighting of the East Asia Crossing network in Korea, Asia Global Crossing today announced the on-time third quarter 2001 completion of the northern ring of East Asia Crossing. East Asia Crossing, the first privately owned and, upon completion, fully redundant pan-Asian cable system, is part of the seamless, worldwide, city-to-city Asia Global Crossing/Global Crossing Network.
(Photo: newscom.com )
DACOM Crossing, Asia Global Crossing's joint venture with DACOM Corporation, has already obtained a Network Service Provider license that allows them to own and operate telecommunications infrastructure facilities in Korea. Through DACOM Crossing, Asia Global Crossing is now able to offer next generation data communications services to carriers, ISPs, and enterprises in Seoul, connecting them to the more than 200 major cities on the Asia Global Crossing/Global Crossing Network.
A recent Dataquest study estimates that South Korea has the highest broadband penetration among Asian countries of Internet users. More than 40 percent of Korean households access the Internet, and of those more than 60 percent use broadband connections. The Korean government has mandated that at least 80 percent of the Korean population should access the Internet at broadband speeds greater than 20Mbps by 2005, which will require significant increases in capacity. With the introduction of East Asia Crossing, customers in Korea will now have access to unprecedented international bandwidth and capacity products.
``With the completion of the northern ring of East Asia Crossing, we are poised to provide complete city-to-city connectivity in the Asian region,'' said John Legere, chief executive officer of Asia Global Crossing. ``Korea, with its near ubiquitous broadband penetration, is an ideal match for our global network products and services and will undoubtedly benefit from the additional capacity now available.''
``By connecting to East Asia Crossing and securing our Network Service Provider license, we are ready to provide our customers with scalable international capacity,'' said Heon Soo Kim, president and chief executive officer of DACOM Crossing.
East Asia Crossing already connects Hong Kong, Japan, and Taiwan, with Singapore to be connected in the fourth quarter. Connectivity to Malaysia and the Philippines will be in place in early 2002, and in China as regulations permit. East Asia Crossing has an initial capacity of 80 gigabits per second and is upgradeable to 2.56 terabits, which is about 25 times the international capacity now available to Korea.
About DACOM Crossing
DACOM Crossing is a joint venture between Asia Global Crossing, which holds 49 percent, DACOM, which holds 48.9 percent, and OPICOM, which holds 2.1 percent. DACOM Crossing will provide terrestrial backhaul and high capacity services at competitive prices to carriers, Internet service providers, and enterprises in Korea.
About DACOM Corporation
DACOM was founded in 1982 as the first information and communications company in the nation with the goal of leading the transition towards information society. For the last 19 years, DACOM has played a central role in telecommunications development as a pioneer in the nation's information and communications industry. DACOM, which started with an initial capital of KRW5.9 billion and 108 employees, has recorded tremendous growth; in 2000, the company generated sales of KRW999.0 billion (estimate) with 2,930 employees.
DACOM has led the development of the nation's telecommunications industry. Chollian, DACOM's online service, is the largest in the country with four million paying subscribers. DACOM also offers international and domestic long-distance telephone service, electronic commerce, Internet and various total solution services for corporate customers.
About Asia Global Crossing
Asia Global Crossing (NYSE: AX - news), a public company whose largest shareholders include Global Crossing (NYSE: GX - news), Softbank (Tokyo Stock Exchange: 9984), and Microsoft (Nasdaq: MSFT - news), provides the Asia Pacific region with a full range of integrated telecommunications and IP services. Through a combination of undersea cables, terrestrial networks, city fiber rings and complex web hosting data centers, Asia Global Crossing is building one of the first truly pan-Asian networks, which, in combination with the worldwide Global Crossing Network, will provide the Asia Pacific region with seamless access to major business centers worldwide. As part of its strategy to provide city-to-city connectivity, Asia Global Crossing partners with leading companies in each country it connects to provide backhaul networks.
Statements made in this press release that state Asia Global Crossing's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Asia Global Crossing's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States, Asia, and other countries and regions; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in Asia Global Crossing's filings with the Securities and Exchange Commission. One is cautioned not to put undue reliance on such forward-looking statements, which speak only as of the date of this press release. Asia Global Crossing expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION:
ASIA GLOBAL CROSSING
Investor contact: Asia Global Crossing Investor Relations (Los Angeles CA), +1 310 385 5283, or Sui Ling Cheah (Hong Kong), +852 2121 2809, sui.ling.cheah@asiaglobalcrossing.com
Press contact: Madelyn Smith (Los Angeles CA), +1 310 385 3816, madelyn.smith@asiaglobalcrossing.com, or Selene Lo (Hong Kong), +852 2121 2828, selene.lo@asiaglobalcrossing.com
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SOURCE: Asia Global Crossing |
