With the landing and lighting of the East Asia Crossing network in Korea, Asia Global Crossing announced the on-time third quarter 2001 completion of the northern ring of East Asia Crossing. East Asia Crossing, a privately owned and, upon completion, fully redundant pan-Asian cable system, is part of the worldwide, city-to-city Asia Global Crossing/Global Crossing Network.
DACOM Crossing, Asia Global Crossing's joint venture with DACOM Corporation, has already obtained a Network Service Provider license that allows them to own and operate telecommunications infrastructure facilities in Korea. Through DACOM Crossing, Asia Global Crossing is now able to offer next generation data communications services to carriers, ISPs, and enterprises in Seoul, connecting them to the more than 200 major cities on the Asia Global Crossing/Global Crossing Network.
A recent Dataquest study estimates that South Korea has the highest broadband penetration among Asian countries of Internet users. More than 40 percent of Korean households access the Internet, and of those more than 60 percent use broadband connections. The Korean government has mandated that at least 80 percent of the Korean population should access the Internet at broadband speeds greater than 20Mbps by 2005, which will require significant increases in capacity. With the introduction of East Asia Crossing, customers in Korea will now have access to unprecedented international bandwidth and capacity products.
East Asia Crossing already connects Hong Kong, Japan, and Taiwan, with Singapore to be connected in the fourth quarter. Connectivity to Malaysia and the Philippines will be in place in early 2002, and in China as regulations permit. East Asia Crossing has an initial capacity of 80 gigabits per second and is upgradeable to 2.56 terabits, which is about 25 times the international capacity now available to Korea.
About DACOM Crossing:
DACOM Crossing is a joint venture between Asia Global Crossing, which holds 49 percent, DACOM, which holds 48.9 percent, and OPICOM, which holds 2.1 percent. DACOM Crossing will provide terrestrial backhaul and high capacity services at competitive prices to carriers, Internet service providers, and enterprises in Korea.
About Asia Global Crossing:
Asia Global Crossing (NYSE:AX) provides the Asia Pacific region with integrated telecommunications and IP services. For more information, visit www.asiaglobalcrossing.com.