KT, Sea Launch ink sat launch pact

(Asia Pulse Businesswire via NewsEdge) KT, South Korea's largest fixed-line operator, has forged an agreement with US-based launching company Sea Launch to put the country's first satellite for both military and commercial purposes into orbit in August.

The Mugunghwa 5 satellite, jointly funded by South Korea's Defense Ministry and KT, is scheduled to lift off from a US vessel in high seas south of Hawaii to replace the Mugunghwa 2, which was put into space in 1996.

The country's fourth commercial satellite, built by Alcatel of France, will be used for military communications and commercial purposes, such as broadcasting and telecom.

During the first year, the military and KT will control the satellite for six months each. KT will then have exclusive rights for the entire second year.

The two sides plan to sign a separate agreement on control and use of the satellite after the first two years.

Sea Launch is a joint venture established in 1995 by Boeing Co. of the US, Energia of Russia and several other European firms.

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