KT inks deal with Singaporean firm to develop digital logistics model

KT Corp., a major telecom operator in South Korea, said Monday it has reached a deal with a Singaporean postal service firm to join hands in developing a new business model for digital logistics.

Under the memorandum of understanding, KT and Singapore Post, or SingPost, will pilot a digital logistics transportation optimization program in seven districts in Singapore, leveraging the Korean company's artificial intelligence delivery platform, LISFO, according to KT.

The two companies will also calculate optimal travel routes and offloading information from the initial planning stage based on KT's AI-based prediction solutions tailored to the local logistics environment in Singapore.

KT said LISFO will likely help SingPost reduce the total mileage by 27 percent and the number of vehicles by 15 percent.

SingPost, which provides domestic and international postal and logistics services, is making efforts to strengthen its competitiveness in e-commerce logistics and expects the partnership with KT will help it promote digital transformation of the logistics industry, KT added.

Source: Yonhap News Agency