Korea Telecom to Invest $300 Mln to Upgrade Internet Service
Seoul, April 28 (Bloomberg) -- Korea Telecom Co., South Korea's largest
telephone company, said it will invest 350 billion won ($297 million)
to speed its Internet service, Kornet, tenfold.
The state-run company will spend 70 billion won to speed its backbone
network speed to one gigabit per second, 10 times its current speed.
''Giga'' switches, or central operators, will be installed in 35 cities
across the nation to increase the speed of inter-city Internet service.
Korea Telecom's equipment providers include Cisco Systems Inc.
and 3Com Corp. of the U.S. and Samsung Electronics Co. and
Sungmi Telecom Electronics Co. of South Korea.
''Korea Telecom will be the fastest server in the nation by the end of
this year,'' said Kim Sung Yong, a company official. Currently, Dacom
Corp.'s Boranet is the nation's fastest Internet service provider.
Kornet, the nation's largest Internet service provider, has about
488,000 personal and corporate subscribers. It posted a net profit of
3.8 billion won last year, equivalent to 33 percent of the total net
profit earned by Internet service providers.
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