S. Korean firm taps Vietnam’s music streaming market
The Saigon Times
|Representatives of KT Corporation and VTV Cable with the memorandum of understanding for strategic partnership to develop a music streaming platform in Vietnam – PHOTO: KT|
HCMC – South Korea’s KT Corporation on April 9 signed a memorandum of understanding (MoU) with Vietnam Television Cable Corporation (VTVcab), an arm of Vietnam Television, to develop a music streaming platform in the country.
Under the MoU, the two corporations will design a music streaming platform to distribute K-pop music and protect intellectual property rights, VietnamPlus news site reported.
KT said that the firm would provide key technology in developing the service such as music personalization using Artificial Intelligence, which is currently used by its media affiliate Genie Music. Genie Music is South Korea’s second largest music streaming service operator and a major music distributor.
The partnership is expected to meet the rising demand for K-pop music in the Vietnamese market and contribute to deploying the K-pop music distribution strategy in Vietnam.
KT also said that it would expand cooperation with the Vietnamese partner in the broader media industry, including internet protocol television and over-the-top media services.
The South Korean telecom giant currently operates video streaming service Seezn.