KT Corporation and Asia Broadcast Satellite (ABS) announced that they have signed the sale and purchase of the Koreasat-2 satellite. The closing of the sale will occur upon the issuance of the necessary US governmental approvals. The Koreasat-2 satellite is a Lockheed Martin G3000 spacecraft launched in January 1996. The satellite has a Ku-band payload with 16 x 36MHz FSS Ku-band transponders and 6 x 27MHz DBS Ku-band transponders. As a result of the transaction, the Koreasat-2 will be renamed as ABS-1A. ABS plans to relocate ABS-1A (Koreasat-2) to the 75 degrees East Longitude orbital location to be co-located with ABS-1 until the launch of its recently announced expansion satellite, ABS-2, which is scheduled for launch early 2012. The ABS-1A (Koreasat-2) satellite has fuel for a minimum of 2 to 5 years of inclined orbit operations and will provide valuable highpowered Ku-band capacity for satellite telecommunications and broadcast services to ABS’ customers in the Middle East region. ABS has contracted KT Corporation to provide the satellite operations and Telemetry, Tracking and Control (TT&C) services for the ABS-1A (Koreasat-2) satellite.