KT Freetel sets 2 trillion won sales target
Korea Telecom Freetel (KT Freetel) yesterday announced its business plan for the year that calls for sales of 2 trillion won, a
30 percent increase over last year and net profit of 200 billion won.
The company said it plans to expand its subscriber base to 5.35 million from the current 4.56 million and bolster its wireless
Internet service.
About 780 billion won has been earmarked for facilities investments to improve the quality of calls.
A provisional look at the fiscal year 1999 showed that the company's losses were 9.5 million won, significantly lower than
forecasted earlier, and the debt-to-equity ratio stood at below 150 percent, much lower than the initial projection of 230 percent,
according to the company.
PersNet, the company's Internet portal service launched last October, is expected to see its subscriber base grow to 3.5 million
by the end of the year from the current 400,000. By introducing new pricing plans for wireless data services, the company will
boost its wireless data service subscribers to about 620,000, the company said.
A trial network of the third generation mobile communication service using CDMA2000 (code division multiple access 2000)
technology is expected to be launched this year as well as a trial service of high data rate (HDR) packet data service developed
by Qualcomm. The existing IS-95B network, which provides data transmission speed of 64Kbps, will be expanded to provide
nationwide coverage.
As expected, KT Freetel said that it would pursue the IMT-2000 operator's license together with Korea Telecom. The
government is slated to select IMT-2000 operators at the end of the year ,but how many licenses will be granted and how the
operators will be chosen still remain to be spelled out.
The company will also boost its overseas businesses, exporting wireless network systems and operation technology worth
approximately 20 billion won.
As for the company's NASDAQ listing which is widely expected to take place this year, the company said it has completed
preliminary reviews and is in the process of working out the details. (KHR)
Updated: 01/20/2000
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