Monday, June 08, 2009

New KT Born; KTF Heads into History

After combining KT, the country's largest telephone company and Internet provider, with KTF, the country's second-largest mobile telephone operator, the new KT was born. Today, it is the biggest telecom companies in Korea with total assets of 24 trillion won, annual revenues of 19 trillion won, and a workforce of about 38,000.

The new KT controls about 90% of the country's fixed-line market, 43% of its broadband Internet customers, and 31% of the mobile service market. The company aims to generate annual revenues of 22 trillion won in 2012, more than 3 trillion won in 2008 and secure 2.6 trillion won in operation margin in the same year, up from 1.4 trillion won in 2008. To achieve this goal, the company plans to focus on fixed-mobile communication service to escape from standstill in local calls and high-speed Internet services. By including IPTV and WiBro as its new growth engine, KT can certainly enforce its convergence business. ◦

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