KT to spend $4.4b to deploy «Giga internet»

Dylan Bushell-Embling
22 May 2014
00:00

KT's new chairman Hwang Chang-gyu has announced that the company will invest 4.5 trillion won ($4.38 billion) to deploy a “Giga internet” service.

The company will build Giga (1Gbps+) infrastructure that combines fixed and wireless technology, the JoongAng Daily reported.

Using the planned network, the company plans to also introduce converged services including ultra high-definition IPTV, smart energy services and personalized e-health services.

According to the report, Hwang acknowledged that KT had suffered problems in the past due to poor management, but said he was confident that its employees' passion could help it become South Korea's top operator.

Hwang took over as chairman in January. He said the company plans to restructure its operations to improve its capabilities in five areas, and also to address the sectors where it lacks competitiveness.

In February, the company announced it was cutting its executive workforce by up to 27% as a result of the recent steep decline in the company's profits over the preceding year.

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