KoreaSat-2 sold to ABS
Asia Broadcast Satellite is buying KoreaSat-2. KoreaSat-2 was launched in January 2006 and thus has a few years left of operational life. ABS will then move the satellite to its 75 deg East location, and rename it ABS-1A.
The deal is subject to formal approval by the US government, but no difficulties are seen in that regard. KoreaSat-2/ABS-1A is a Lockheed Martin-built G3000 satellite, and has a 2-5 year life anticipated, albeit some of this period in inclined orbit.
Asia Broadcast’s ABS-2 is under construction, and due for launch in 2012.
Mr Sung Man Kim, Snr-EVP of KT, said: “Koreasat-2 was one of the two clone satellites which we launched in the mid ‘90s for the start of KT’s satellite business in Korea. It has brought us a lot of value and served as a workhorse for our business. Through this transaction, we would like to build a strong business relationship with ABS for the future business opportunities in the Asia-Pacific region. KT will provide the TT&C services for Koreasat-2 and ABS will enjoy KT’s safe and reliable services in controlling satellites.”
Mr Tom Choi, CEO of Asia Broadcast Satellite said: “We are very pleased to work with KT Corporation and to conclude this transaction as the first step in building a long term strategic relationship with KT for the development of future opportunities together. The ABS-1A (Koreasat-2) satellite is a very powerful Ku-band satellite which will provide us with the additional Ku-band capacity that we need to meet the demands of our customers in the Middle East and will allow us to continue growing our revenues during the ABS-2 construction.”