B: KOREA THRUNET'S BROADBAND END USER BASE PASSED 180,000 MARK
SEOUL, South Korea and NEW YORK, Mar 6, 2000 /PRNewswire via COMTEX/
-- Korea Thrunet Co., Ltd. (Nasdaq: KOREA) today announced that the
number of its broadband access end users increased to 186,537 as of
February 29, 2000. The number of end users increased 866%
year-over-year from 21,538 as of February 28, 1999 and 17% sequentially
from 155,740as of January 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. The company continues to
maintain over 50% market share of broadband subscribers and continues
to have a backlog in subscription demand.
The Company anticipates that its subscriber base shall easily surpass
200,000 subscribers by the end of March 2000. The average consensus
among analysts on Korea Thrunet's subscriber base has been 209,000 for
the year-end 2000. Based upon present subscription numbers and the
backlog in registration requests, the Company anticipates significantly
higher subscription numbers by the year-end. The Company notes that the
eventual migration of users from its narrowband subsidiary Nowcom have
not yet been taken into consideration.
About the Company Korea Thrunet Co., Ltd. is the leading provider of
high-speed Internet services in Korea, with 186,537 end users as of
February 29, 2000. 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.
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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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)
GEOGRAPHY: New York
South Korea
INDUSTRY CODE: CPR
MLM
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