LG Powercom celebrates anniversary

LG Powercom is celebrating its first anniversary of launching into the high-speed Internet broadband market with its brand, “XPEED.” Although the company has the lowest market share compared to rivals KT and Hanarotelecom, it has laid out a goal of achieving 500 billion won ($520 million) revenue in the high-speed internet service sector and 1 trillion won in overall revenue next year. LG Powercom is aiming at securing 2 million subscribers to XPEED by next year, while providing a so-called “Triple Play Service,” or TPS. Along with XPEED, Internet phone (also known as VoIP) and Internet television (or IP-TV) services are offered in a single package. Last year the company succeeded in getting 800,000 users to subscribe to its high-speed Internet service. It is hoping to expand the figure to 1 million subscribers in October of this year. Since LG Powercom joined the Internet service market, an era of competion for high-speed Internet service of 100mbps (megabits per second) opened up. LG Powercom’s strategy was to attack the market with a broad high-speed network that was faster and wider than its rivals. KT and Hanarotelecom upgraded their communication networks, which boosted Internet speed. Competition among high-speed Internet providers is expected to heighten. by Suh Kyoung-ho