KT aims for 19.5 tln won in 2010 revenues

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By Lee Youkyung
SEOUL, Jan. 19 (Yonhap) -- KT Corp., South Korea's top fixed-line operator and
No. 2 mobile operator, said Tuesday that it expects its 2010 revenues to reach
19.5 trillion won (US$17.35 billion), slightly higher than an estimated 18.96
trillion won a year ago.
Its capital expenditure will be 3.2 trillion won this year, the company said in a
regulatory filing.
KT aims to achieve the target revenues by increasing its smartphone models to 20
percent of its line-up and boosting sales in its wireless data business, the
company said, adding it expects the wireless data market to grow 1.8 percent from
a year ago in 2010.
KT, the exclusively carrier of Apple Inc.'s iPhone released here in December,
aims to build an additional 14,000 wireless access points to meet growing demand
for wireless data on computer-like mobile devices.
KT estimated its 2009 net profit would come in at 1.26 trillion won (US$1.12
billion) in a preliminary guidance, excluding 860 billion won that it spent for a
one-time payroll raise arising from a 16 percent job cut at the end of 2009, it
said. The profit guidance was calculated assuming KT merged with its mobile
affiliate KTF Co. as of Jan. 1, 2009.
Operating profit in 2009 is tallied at an estimated 1.82 trillion won, KT said,
also excluding the one-time payroll raise. The company is scheduled to disclose
its earnings for the last quarter of 2009 on January 29.
Shares of KT were trading at 45,850 won on the Seoul bourse as of 1:34 p.m., down
0.33 percent from Monday's close.
ylee@yna.co.kr
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