KT to invest W3 trillion in ‘network revolution’

Lee Suk-chae, chairman and CEO of telecommunications giant KT, vowed Tuesday to develop more content-oriented revenue sources, saying it can’t survive by only sticking to its conventional business models. He said the nation’s dominant fixed-line operator is going to spend 3 trillion won by 2017 on a “network revolution” in a strategy to offer creative contents and services that run on faster networks.

In detail, the company plans to invest 2.5 trillion won in backbone networks, while the remaining 500 billion won will be used to speed up networks for households.

For full article, see Korea Times.

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