(PR NEWSWIRE) Korea Thrunet's Broadband End User Base Passed 150,000 Mark
Korea Thrunet's Broadband End User Base Passed 150,000 Mark
SEOUL, South Korea, and NEW YORK, Feb. 2 /PRNewswire/ -- Korea Thrunet
Co., Ltd. (Nasdaq: KOREA) today announced that the number of its broadband
access end users increased to 155,710 as of January 31, 2000. The number of
end users increased 841% year-over-year from 16,541 as of January 31, 1999 and
16% sequentially from 134,740 as of December 31, 1999. As a first mover in the
Korean broadband Internet market, Korea Thrunet is aggressively increasing new
subscribers to stay ahead of its competitors.
Korea Thrunet is currently adding more than 20,000 end users monthly and
the rate of subscriber growth is continuously increasing. This is primarily
due to our expansion of service coverage. Since our initial public offering in
mid-November, 1999, we have made contracts with 10 additional cable system
operators (SO). Korea Thrunet currently has exclusive contracts with 42 SOs
out of 77 SOs in total in Korea. In areas where there is no HFC (Hybrid Fiber
Coaxial) network served by KEPCO (Korea Electric Power Company) , Korea
Thrunet is aggressively deploying its own HFC network to increase its service
coverage. End users refer to subscribers who are paying monthly access fee for
Korea Thrunet's services.
About the Company
Korea Thrunet Co., Ltd. is the leading provider of high-speed Internet
services in Korea, with 112,995 end users as of November 30, 1999. Thrunet
service features "always-on" Internet access at speeds up to 100 times faster
than traditional dial-up Internet access, with compelling multimedia content
ranging from on-demand music videos and Internet telephony to multimedia
bulletin board and multimedia chatting services. Korea Thrunet also provides
facilities-based data communications services to more than 150 corporate
customers in Korea, including several major telecommunications carriers such
as SK Telecom Co. Ltd. and Shinsegi Telecomm Inc. Founded in July, 1996,
Korea Thrunet's principal offices are located at 1338-5, Seocho-2 dong,
Seocho-ku, Seoul, Korea 137-072.
SOURCE Korea Thrunet Co., Ltd.
-0- 02/02/2000
/CONTACT: Thomas Sung of Korea Thrunet Co., Ltd., +822-3488-8059, or fax,
+822-3488-8700, thomas@corp.thrunet.com; or Mami Ogawa of Thomson Financial
Investor Relations, 212-701-1824, or fax, 212-344-5929,
mami.ogawa@thomsonir.com, for Korea Thrunet Co., Ltd./
(KOREA)
CO: Korea Thrunet Co., Ltd.
ST: South Korea, New York
IN: CPR MLM
SU:
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