- Lays foundation to emerge as CDN market leader through long-term contract with major portal sites
Hyosung ITX and SK Communications signed a four-year CDN service contract worth a total of 15.5 billion won. Hyosung ITX signed the contract for a four-year extension of Cyworld’s photo album and background music (BGM), to which it has supplied CDN services since 2007. The Company also signed a contract to expand business ties into new areas in Cyworld, including user created contents.
Park Jin-yong, head of the CDN business headquarters at Hyosung ITX, said, “The contract is a result of comprehensive recognition of the stability of our services and operational management, and our technological capacity catering to the needs of customers,” adding, “Notably, by integrating CDN services that have been provided by other CDN providers into our services, we will increase the efficiency of our client company’s operational management, cut costs, and help the client focus on core competence, which is very significant.”
Through the contract, Hyosung ITX plans to expand its CDN services to areas comprising multimedia services that are highly popular among web users, including UCC, TV, mini life, and advertising, which are offered by Cyworld services, as well as blogs, web cashing and game downloading, beginning in April.
Lee Hwa-taek, President of Hyosung ITX, said, “As Hyosung ITX is set to provide CDN services on a long-term basis to major service areas in Nate and Cyworld, we have laid the foundation to take a leap forward to become the market leader in the domestic CDN market.”
