KT looks abroad for expansion

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KT looks abroad for expansion

KT Corp. will invest 1 trillion won ($860 million) in the telecommunications markets of Southeast Asia and Middle East countries by 2007, Lee Young-kyung, the president of the company, said in a speech at ITU Telecom World 2003 in Geneva yesterday. The president of Korea’s largest broadband carrier added that the company was talking with the Ministry of Foreign Affairs and Trade about entering the Iraqi market. Iraq reportedly is looking for an operator of a wired telephone service and a high-speed Internet provider. KT had decided to enter foreign markets, Mr. Lee said, because the Korean market is already saturated with those services. “We have already entered Vietnam and Mongolia, but the business scales there are small,” an official at KT said. “The company is looking for large investments in other countries.”
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