(KOREA) Cisco and Korea Thrunet Sign Strategic Alliance To Speed Deployment
of Advanced IP Infrastructure and Services in Korea
TUESDAY, FEBRUARY 29 2000 12:35 AM EST
SAN JOSE, Calif., Feb 29, 2000 (BUSINESS WIRE) -- Cisco Systems, the
worldwide leader in networking for the Internet, today signed a Memorandum
of Understanding (MOU) with Korea Thrunet Co. Ltd. (Nasdaq:KOREA), Korea's
leading supplier of high-speed Internet services and corporate leased lines.
Under terms of the agreement, Korea Thrunet will leverage Cisco technology
and services to deploy next generation IP (Internet Protocol) infrastructure
that integrates combined voice, video and data traffic together with new
broadband cable services and applications. In turn Cisco will support Korea
Thrunet in the development of these applications, many of which are aimed at
enhancing the firm's services and reaching new markets.
The new applications, to be announced in due course, are expected to benefit
Korea Thrunet's broadband cable subscriber base, which has increased to
155,710 as of Jan. 31, 2000, representing an 841 percent increase
year-over-year. Korea Thrunet says it is adding more than 20, 000 new cable
data subscribers a month.
According to market researcher IDC, Korea remains one of the largest
Internet markets in Asia with more than 3.26 million registered users in
1999. According to Korean government estimates, the number of actual users
is as high as 12 million. IDC predicts that registered users will reach more
than 10.18 million by 2004, with revenues from Internet commerce revenue
forecast to amount to U.S. $17.6 billion.
"The strategic role of the Internet and its impact on people, companies,
countries and governments is unprecedented and represents a major force
behind the strongest global economy in history," said John Chambers, Cisco's
president and CEO. "This agreement reaffirms our commitment to bringing
Internet access, applications and services to every country worldwide and
demonstrates the global reach of the Internet economy."
"The agreement cements our long working relationship with the world's
largest provider of Internet hardware products and services," said Kim
Jong-Kil, Korea Thrunet's president and CEO. "We strongly believe that we
will be able to increase our market share together as a direct result of
this agreement and the widespread usage of Cisco products and services."
Korea Thrunet will leverage Cisco's products across its entire network to
increase capacity and reduce operational costs. The company will also roll
out additional high speed Internet access services over cable TV networks.
On the marketing front, Korea Thrunet will participate in a Cisco branding
programme designating its services as a Cisco Powered Network (CPN)
services.
About Korea Thrunet Co. Ltd. Korea Thrunet is the leading provider of
high-speed Internet services in Korea, with 112,995 end users as of Nov. 30,
1999. Korea Thrunet service features "always-on" Internet access at speeds
of up to 100 times faster than traditional dial-up Internet access, with
compelling multimedia content ranging from on-demand music videos and
Internet telephony to multimedia bulletin boards and chatting services.
Korea Thrunet also provides facilities-based data communications services to
more than 150 corporate customers in Korea, including several major
telecommunications carriers such as SK Telecom Co. Ltd. and Shinsegi
Telecomm Inc.
More information on Korea Thrunet can be found at www.thrunet.com
About Cisco Systems Cisco Systems (Nasdaq:CSCO) is the worldwide leader in
networking for the Internet. Cisco news and information are available at
www.cisco.com.
Note to Editors: Cisco, Cisco Systems, and the Cisco Systems logo are
registered trademarks of Cisco Systems, Inc. and/or its affiliates in the
U.S. and certain other countries. All other trademarks mentioned in this
document are the property of their respective owners.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Cisco Systems, Inc.
David Ko, (+65) 9664 4427 (Press)
dako@cisco.com
Mary Thurber, 408/526-8893 (Investor Relations)
mthurber@cisco.com
WEB PAGE: businesswire.com
GEOGRAPHY: afxal CALIFORNIA INTERNATIONAL ASIA PACIFIC TRACK
INDUSTRY CODE: TELECOMMUNICATIONS
INTERNET
COMPUTERS/ELECTRONICS
MARKETING
AGREEMENTS
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