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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: steve susko who wrote (33399)	4/28/1999 7:59:00 AM
From: Tim Luke	Read Replies (4) \| Respond to of 90042

Korea Telecom to Invest $300 Mln to Upgrade Internet Service Bloomberg News April 28, 1999, 2:34 a.m. PT 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.