KT Q4 swings to loss on subscription drop, weak won

SEOUL, Jan. 23 (Yonhap) -- KT Corp., South Korea's largest fixed-line operator,
said Friday that its fourth-quarter earnings swung to a loss on a drop in
subscribers and a weaker won.

Net loss amounted to 26.6 billion won (US$19.4 million) in the October-December
period, a turnaround from the profit of 107.6 billion won a year earlier, the
company said in a regulatory filing.
Sales fell 4 percent to 2.88 trillion won and operating profit tumbled 54.5
percent to 83.6 billion won, it added.
The loss was attributed to a drop in its subscription base due to the increasing
usage of over-the-Internet calls and mobile phones, KT said.
Also responsible was the won's plunge against the greenback, which raised its
foreign-debt service costs.
ygkim@yna.co.kr
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