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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (60004)	2/5/2002 2:23:07 AM
From: StanX Long	Read Replies (1) of 70976

Korea Telecom Posts Hefty Operating Profit for 2001 Tuesday February 5, 1:44 PM sg.news.yahoo.com SEOUL, Feb 5 Asia Pulse - Korea Telecom (KT) said Tuesday that its operating profit rose by 53.7 per cent year-on-year to 1.45 trillion won (US$1.10 billion) in 2001. The telecommunication giant said that its sales and net income topped 11.61 trillion won and 1.08 trillion won respectively, an 11.6 per cent and 7.6 per cent rise compared to the same period in the previous year. In terms of net income, the company said that even excluding extraordinary gains from the sale of SK Telecom and other stocks, net income hit 850 billion won, nearly double the 433 billion won in 2000. KT said that the noticeable improvement in the company's balance sheet was due to aggressive marketing that boosted high-speed Internet subscriptions. The number of broadband users rose from 1.32 million in 2000 to 3.85 million last year. It also said that major restructuring efforts, like a freeze in wages, kept expenditures down to a minimum, with operating costs rising by 7.5 per cent to 1 trillion won as the company allocated money to strengthening its high-speed cyber network infrastructure. By sector, KT said that its Internet business rose 169.1 per cent to 1.51 trillion won; followed by a 166.4 per cent rise in sales for its wireless operations that reached 518 billion won; and a 10.7 per cent increase, or 1.39 trillion won, in earnings from leasing wired-communication facilities.

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