Korean mobile carrier KT chairman Lee Suk-chae stressed the importance of collaboration between governments and private firms to help developing nations improve their economies at the eighth meeting of the Broadband Commission for Digital Development in New York on Saturday.

“KT’s joint establishment of an LTE firm with the government of Rwanda will be an exemplary model available for developing nations that seek cooperation of private firms for social and economic development,” Lee said in a speech. 

The commission is an international body that promotes the spread of broadband infrastructure and services. Members are comprised of 50 heads and officials from governments, private companies and international communications organizations.

The business model led by the Korean mobile firm was the world’s first public private partnership or PPP, with which KT expects to create more synergy between the government’s tangible and tangible assets such as business rights and infrastructure, with private sector assets to support emerging countries.

In Rwanda, KT has pledged to invest some 150 billion won ($138 million) in building the Long Term Evolution technology network over 25 years starting next year.

The Seoul-based firm will also hold an event called “Transform Africa Summit 2013 & Exhibition” next month, aimed at promoting social and economic development in Africa.

By Kim Young-won (wone0102@heraldcorp.com)