Hun’s Corp. President Myung-hoon Oh, left, nad KT Sat Sales Vice President Yang Sang-jin after signing a partnership agreement on maritime VSAT distribution in Japan. Korea’s KT Sat said it is breaking into this market by offering lower prices than the competition and expects to generate $27 million in annual revenue from 300 vessels by 2021. Credit: KT Sat

PARIS — Koreas’s KT Sat is targeting maritime VSAT as a major market opportunity in East Asia and on Aug. 30 secured a foothold with Hun’s Corp., which will be KT Sat’s maritime services distributor in Japan.

KT Sat said it will attempt to unseat Japanese telco KDDI and several well-established satellite maritime service providers by offering lower prices. The company is targeting annual revenue of $27 million from 300 ships in 2021.

Service on an undisclosed number of Hun’s Corp. ships — the company’s fleet is more than 900 vessels — will start in September, KT Sat said.

KT Sat operates four satellites in geostationary orbit, including the Koreasat-8, which is more widely known as ABS-2 and is co-owned with fleet operator ABS of Hong Kong and Bermuda.

KT Sat’s current maritime satellite communications business is focused in South Korea, which is less than half the size of the Japanese market of more than 4,000 vessels.

Koreasat 5 currently provides most of KT Sat’s maritime services in addition to capacity leased on satellites owned by third parties. The Koreasat-5A satellite, under construction by Thales Alenia Space of France and Italy, is scheduled for launch late this year by a SpaceX Falcon 9 rocket. It will be stationed at 113 degrees east, where Koreasat 5 is now, and will have a dedicated maritime beam.

Koreasat-5A, with a dedicated beam for maritime connectivity services, is scheduled for launch aboard a SpaceX rocket later this year. Credit: KT Sat

KT Sat Chief Executive Won-sic Hahn said Japan is only the start. The Hun’s contract, he said, “expands the market of KT Sat, which was limited in Korea. Now KT Sat has entered the global MVSAT [maritime VSAT] market. This partnership is a stepping stone for KT Sat’s penetration of maritime VSAT markets around the world — in countries with successful maritime logistics industries such as Singapore, Taiwan, Hong Kong. We will lead the global MVSAT business.”

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Peter B. de Selding
Peter B. de Selding

Peter de Selding is a Co-Founder and editor for SpaceIntelReport.com. He started SpaceIntelReport in 2017 after 26 years as the Paris Bureau Chief for SpaceNews where he covered the commercial satellite, launch and the international space businesses. He is widely considered the preeminent reporter in the space industry and is a must read for space executives. Follow Peter @pbdes


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