Fixed and mobile operator KT Corp. is planning to generate almost half its revenues from non-telecom areas in 2015, up from a quarter. CEO and chairman Lee Suk-chae told a news conference that priorities would be financial convergence and cloud…
Fixed and mobile operator KT Corp. is planning to generate almost half its revenues from non-telecom areas in 2015, up from a quarter. CEO and chairman Lee Suk-chae told a news conference that priorities would be financial convergence and cloud computing, as the company looks to compete in the country’s saturated telecom market. KT Capital, a unit of KT Corp., has been building up its stake in credit card company BC Card.
Cellco SK Telecom is looking to invest about W2tr (US$1.8bn) to build out LTE networks, network division chief Kwon Hyok-sang was quoted as saying. Nationwide rollout is scheduled for 2013, but services could start earlier if demand continues to skyrocket.
In separate news, the company is planning to spin off its platform business at the beginning of October. The move is aimed at driving growth in areas such as mobile content and video phone calls. It is subject to board members’ and shareholders’ approval.
