KT Corporation

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KT Corporation
Type Public
Traded as KRX: 030200
NYSEKT
LSEKTCD
Industry Telecommunications
Founded 10 December 1981
Headquarters Seongnam, South Korea
Key people Chang-Gyu Hwang, (CEO)
Products Fixed line and mobile telephony, Internet services, digital television
Revenue KRW 20,166,817 million (2012)[1]
Employees 32,186 (As of end of 2012)
Subsidiaries
Website www.kt.com/eng/

KT Corporation also known as KT formerly Korea Telecom, in Korean 주식회사 케이티 (formerly 한국통신, Hanguk Tongshin), is a South Korean integrated wired/wireless telecommunication service provider. KT focuses on information and communications business, and it has the largest portion of the South Korean local telephone and high-speed Internet market.

Originally founded in 1981 as a public corporation, KT actively led Korea's transition to the information era and played a key role in promoting the growth of Korea into a globally recognized IT superpower. In 2009, KT merged with its mobile subsidiary KTF, paving the way to the convergence of fixed and mobile services. Since KT initially introduced the Apple iPhone to South Korea, it constantly seeks new business area, such as media, virtual goods, and global business with its domestic businesses experience. The company has a well-distributed shareholder structure under which the National Pension Service (NPS) is the largest shareholder (6.81% as of December 31, 2012), but NPS holds no managerial rights over the company.[2] Under the current shareholder structure, no controlling shareholder exists.

Company overview[edit]

History[edit]

Before privatization[edit]

  • September 28, 1885: Telephone facilities set up between the cities Seoul and Incheon[3]
  • December 1981: KTA established
  • 1984: Tenth in the world to develop the electronic switch TDX-1
  • 1987: Completed nationwide installation of phone automation service
  • 1991: Company renamed Korea Telecom
  • 1993: Total of approximately 20 million telephone lines installed (only 4.5 million existed in 1982), thereby establishing the basis for advancement to the information society
  • 1995: Mugunghwa Satellite No. 1 launched
  • 1996: Mugunghwa Satellite No. 2 launched
  • 1996: PCS and CT-2 license acquired. KT Freetel (mobile business) founded.
  • 1997:Status changed from organization which has 50%+ state funding to one with a state funding of smaller scale (below 50%)
  • October 1, 1997: The new Public Corporation Business Structure Improvement & Privatization Act applied to KT (no longer exempted owing to the change in company status)
  • 1998: Headquarters relocated from Jongno-gu, Seoul, to Bundang-gu, Gyeonggi Province
  • December 1998: Newly listed on stock exchange
  • 1999: Mugunghwa Satellite No. 3 launched
  • June 2000: Managerial rights of Hansol M.com acquired
  • December 2000: IMT-2000 license acquired
  • April 2001: Caller ID (CID) service launched

After privatization[edit]

  • May 2001: Plans for privatization announced. Celebrated 20th anniversary and changed CI from Korea Telecom to KT. KT’s telephone offices restructured into regional branch offices. “Let’s” launched as the new company slogan.
  • 2002: Privatization of company completed.[4]
  • 2005: According to Fair Trade Commission data, KT as a corporate group that holds 12 subsidiaries and total assets of 29.315 trillion won, ranked 8th among Korea’s conglomerates.
  • December 28, 2005: Launched inter-Korean telecommunication services and opened KT branch office in North Korea’s Gaesung industrial complex
  • January 2009: Six days after inauguration as the new Chairman of KT, Suk-Chae Lee announced plans for KT-KTF merger at press conference
  • March 2009:[5] Received conditional approval from Korea Communications Commission (KCC) on KT-KTF merger
  • April 2009: QOOK, new brand for home services, launched. The existing broadband internet service Megapass renamed as QOOK Internet, and Mega TV renamed as QOOK TV.

After KT-KTF merger[edit]

  • June 1, 2009: KT and its mobile subsidiary KTF merged to form a new unified KT
  • July 2009: Previous company slogan “All New” replaced with “Olleh Management,”and “Olleh KT” officially launched as the new CI
  • November 2009:[6] Launched KT’s FMC service, QOOK & SHOW, and forecasted advent of the smartphone era
  • November 2009: Became first local carrier to launch Apple’s iPhone in Korean market
  • December 2009: Launched the first 3W (Wi-Fi, WiBro, WCDMA) phone “Show Omnia” in Korean market
  • June 2010: Launched KT’s cloud storage service, “Ucloud” service
  • August 2010: Company’s FMC service relaunched under new brand name “Olleh” in alignment with company slogan
  • August 31, 2010: KT included as Dow Jones Sustainability World Index company[7]
  • September 10, 2010: Launched Apple’s iPhone 4 in Korean market and unlimited 3G data plan[8]
  • November 11–12, 2010: As the official telecommunications service provider for the G20 Seoul summit provided the heads of states with powerful IT communication services.[9]
  • January 25, 2011: KT’s brand name for its fixed line services “QOOK” and wireless services“SHOW” consolidated and renamed under the brand name “Olleh”. Renamed as “olleh HOME” and “olleh MOBILE”.[10]
  • February 10, 2011: Acquired 20.05% of BC Card shares, emerging as the second-largest shareholder.[11]
  • January 3, 2012 : KT launched its LTE service.[12]
  • September 2012 : kt was awarded the Global Supersector Leader for Telecommunications (World No. 1 company in terms of sustainable business practices) by Dow Jones Sustainability Indexes for 2 consecutive years.[13]

Board of Directors[edit]

KT’s Board of Directors (BOD) consists of three non-independent directors and eight outside directors, totaling eleven directors as of March 2012. The outside directors are nominated by the Outside Director Nomination Committee based on their expertise and business leadership, and hold office for less than three years. The BOD chairman is selected from among the outside directors and serves for a one-year term. The BOD consists of five standing subcommittees and two ad hoc subcommittees. If required, additional sub-committees may be set up. The current internal directors are Chang-Gyu Hwang (Chairman & CEO), Hyeon-myung Pyo and Il-yung Kim, and the external directors are Eung-Han Kim (Board Chairman), Chun-Ho Lee, Hyun-nak Lee, Byong-won Bahk, Keuk-je Sung, Sang-Kyun Cha, Do-Kyun Song.[14]

Services[edit]

Wireless[edit]

As of 2012 KT customers can receive the services on any of radio frequency band assigned, one or more of radio interfaces.[15]

frequency range frequency
band
frequency width Generation Radio interface Assignment terms License Note
800 MHz (811-817,856-862) --- 12 MHz TRS
850 MHz (819-824,864-869) 26 10 MHz 3.9G LTE 50 billion won[16] for 10 years planned
900 MHz (905-915,950-960) 8 20 MHz 3.9G LTE
1800 MHz (1735-1740,1745-1755,1830-1850) 3 35 MHz 3.9G LTE 2G by Jan/Mar 2012
2100 MHz (1960-1980,2150-2170) 1 40 MHz 3.5G W-CDMA 130 billion won for 15 years
2300 MHz (2330-2360) --- 30 MHz 3.9G WiBro 12.68 billion won with rural area support Mar 2019 (for 7 years)

Smartphones and tablets[edit]

KT was the first operator in Korea to introduce the iPhone, into the Korean market in November 2009. Then, within just four months since the launch of iPhone 4 in September 2010, KT sold a sales of over 1 million iPhones. KT launched the iPad in November 2010.[citation needed]

Wi-Fi hotspots[edit]

KT provides 50,000 Wi-Fi hotspots service under the brand "kt Olleh WiFi zones".

LTE service[edit]

KT stopped 2G services in January 2012 for the Seoul area, and March 2012 for entire area of South Korea on the 1.8 GHz frequency, on which KT began LTE service as brand name "Olleh LTE" (올레 엘티이) and finished the LTE network support in all the area of South Korea by June 2012. KT is planning to add 900 MHz in Seoul for dual-band LTE service by the end of 2012.[17]

TRS[edit]

KT is the only operator that provides TRS in South Korea, as it merged t-on Telecom in September 2012.

Smart Home Service[edit]

In the first half of 2011, kt launched the “Kibot”, a robot specially developed for the education and entertainment of children, which has value-added features, such as more advanced versions of functionalities found on the existing video and Internet phones. In the second half of the year, kt plans to expand beyond voice services by actively pursuing Smart Home services, centering around a rich array of contents.[clarification needed]

uCloud Service[edit]

In June 2010, kt launched the uCloud service, a service that offers users access to a wide range of IT resources (i.e. infrastructure, platform, software), out of which users can selectively use and pay for just the resources they need. The uCloud service provides online cloud storage via both fixed-line and wireless networks. It can be accessed anywhere via portable devices, enabling users to download data wherever they are. “uCloud” is the name coined for kt’s cloud service, with the “u” standing for “ubiquitous” and simultaneously referring to customers in the second person as “you”.[citation needed]

Mobile TV[edit]

kt launched the Mobile TV app service, which enables customers to view live IPTV and video on demand on their smartphones and tablet PCs.

Global business[edit]

Uzbekistan[edit]

In 2007, KT acquired 54.5% of East Telecom, Uzbekistan’s second-largest fixedline operator, and 60% of the shares of the WiMAX operator, Super iMAX.[18]

South Africa[edit]

In 2012, KT and Telkom signed for a consultancy agreement for providing business improvement strategies for mobile sector and iWayAfrica, Telkom’s subsidiary for its VSAT business.[19]

Mongolia[edit]

Since 1995, KT has been a major shareholder of Mongolia Telecom. KT dispatched business professionals to Mongolia and operated various training programs.[20] In 2012, KT contracted with the Mongolian government for establishing an Earthquake Disaster Warning System (EDWS).[21]

Brunei[edit]

In 2012, KT contracted with the Brunei government to establish National Data Center (NDC) and its operation.[22]

Rwanda[edit]

In 2007, KT signed a contract to build a Mobile WiMAX (or WiBro) network in Rwanda.[23] In 2008, KT signed a deal with the Rwandan government to build the backbone its new telecommunication network.[24] In December 2012, KT conducted a national information security project in Rwanda with Korea Internet & Security Agency (KISA).[25] In March 2013, KT signed a contract with the Rwandan government to establish the joint venture to build a nationwide mobile LTE network.[26]

Poland[edit]

In March 2013, KT, Daewoo International Corporation, and the Korea Trade-Investment Promotion Agency (KOTRA) signed a contract to establish high-speed Internet network in Podlaskie, Poland.[27]

KT-sponsored sports teams[edit]

Smart grid investment[edit]

Kt is currently involved in the Jeju Smart Place test bed project led by Korea's Ministry of Trade, Industry and Energy, which is being pursued for the purpose of testing and developing smart grid business models. The project is being conducted on 6,000 households in Jeju island’s Gujwa-eup area, and is scheduled to be conducted over a period of 42 months from May 2009 to May 2013. The aim of the project is to provide an integrated energy management service and achieve the means for efficient energy usage by adopting renewable energy sources and energy storage devices. The project is being executed by the kt Consortium, which is composed of kt and 14 other companies, including Samsung SDI, Hyosung, Samsung Electronics, and four contractors, with the focus being to conduct demonstration tests on electric power-communication convergence business models.

References[edit]

  1. ^ "[About kt] Sustainability report - :: Enabling Transformation - Global ICT Convergence Leader ::". Kt.com. 2013-09-05. Retrieved 2013-09-30. 
  2. ^ "[투자정보] 사업보고서 - :: 사랑 받는 국민기업 - Global ICT Convergence Leader ::". Kt.com. Retrieved 2013-09-30. 
  3. ^ Ryu Hyun-Sung (2008). “The IT Myth Continues”. Human Business, p.16. ISBN 978-89-92043-87-8
  4. ^ Hussain, Tariq (2006). “Diamond Dilemma.” Translated by Lee Se-Min, Random House Korea, p.135. ISBN 89-5986-333-5
  5. ^ KT, Lee Suk-Chae appointed as...Personnel moves initiated today, Digital Times
  6. ^ KT Fixed-Mobile Convergence Services QOOK & SHOW Launched, Newsis.
  7. ^ Components – DJSI WORLD and DJSI WORLD EX US[dead link]
  8. ^ KT launches unlimited 3G data services following WiFi services, Economy Today
  9. ^ munhwa.com, kt Wonderful, Korea Wonderful
  10. ^ New Year Plan/2011 Business Strategy (3), KT, Focuses on Convergence and Enhancing Customer Satisfaction
  11. ^ "KT signs master agreement with Woori and Busan Banks". Moneytoday.co.kr. Retrieved 2013-09-30. 
  12. ^   (2012-01-02). "KT aims for 4 million LTE subscribers". Koreaherald.com. Retrieved 2013-09-30. 
  13. ^ "Sustainability Indexes - Review". Sustainability-indexes.com. Retrieved 2013-09-30. 
  14. ^ "[Investor Relations] The Board of Directors - :: Enabling Transformation - Global ICT Convergence Leader ::". Kt.com. Retrieved 2013-09-30. 
  15. ^ "Korean Mobile frequency as of 27 Sep 2012". slowtime. Retrieved 30 October 2012. 
  16. ^ "KT is not doing good with lte service". Retrieved 30 October 2012. 
  17. ^ "KT will add LTE 900 by end of 2012 in seoul". Retrieved 30 October 2012. 
  18. ^ "[kt Business] Global Investment - :: Enabling Transformation - Global ICT Convergence Leader ::". Kt.com. 2013-09-05. Retrieved 2013-09-30. 
  19. ^ "Operational Overview - Annual Results 2012 - Financial - Telkom Investor Relations". Secure1.telkom.co.za. Retrieved 2013-09-30. 
  20. ^ "[kt Business] Global Investment - :: Enabling Transformation - Global ICT Convergence Leader ::". Kt.com. 2013-09-05. Retrieved 2013-09-30. 
  21. ^ "MK News - KT to export earthquake early warning system to Mongolia". News.mk.co.kr. Retrieved 2013-09-30. 
  22. ^ "The Korea Herald-mobile". M.koreaherald.com. 2012-12-20. Retrieved 2013-09-30. 
  23. ^ "KT Leads Telecom Industrys Globalization". Koreatimes.co.kr. 2007-11-29. Retrieved 2013-09-30. 
  24. ^ "KT wins contract to build Rwanda`s backbone network : 네이버 뉴스" (in Korean). News.naver.com. 2008-10-09. Retrieved 2013-09-30. 
  25. ^ Eden Estopace (2013-01-03). "KT to help strengthen Rwanda's IT security". Telecom Asia. Retrieved 2013-09-30. 
  26. ^ "KT to build LTE network in Rwanda". Koreatimes.co.kr. 2013-03-10. Retrieved 2013-09-30. 
  27. ^ "KT Corp and Daewoo International Corp Get KRW 23 Billion Broadband Project in Poland-Dow Jones". Reuters. 
  28. ^ "sports.kt.com". sports.kt.com. 2012-10-30. Retrieved 2013-09-30. 
  29. ^ "수원-KT 프로야구 10구단 최종 승인". kyeonggi.com. Retrieved 2013-09-14. 
  30. ^ "kfa.or.kr". kfa.or.kr. Retrieved 2013-09-30. 

External links[edit]