KT to Raise Proportion of Digital Platform Business to 50% of Sales by 2025

KT CEO Koo Hyun-mo said on March 29 that the company’s future growth will be driven by its digital platform business, which will account for 50 percent of its sales by 2025.

Koo selected media, internet data centers (IDC) and cloud computing as areas that will be able to make profits in the digital platform business in the future.

"Digital platforms make profits by bridging both demand and supply," Koo said at a general shareholders’ meeting. "IPTV platforms are expected to rack up 2 trillion won in sales in 2021." KT's IPTV sales totaled 1.7 trillion won in 2020.

The shareholders’ meeting approved five agenda items including the addition of two businesses -- the transportation business and the transportation service arrangement business and the medical device manufacturing and sale business to promote a bio-information business based on big data and cloud computing.

With the approval of the financial statements, KT set dividends at 1,350 won per share, up 250 won (an increase of 22.7 percent) from the previous year. Dividends will be paid starting from April 27.