KT earmarks $9.5B for digital initiatives - Mobile World Live

KT earmarks $9.5B for digital initiatives

10 JUN 2022

South Korean operator KT unveiled its budget for non-infrastructure investments over the next five years, earmarking KRW12 trillion ($9.5 billion) for AI, cloud computing and content programmes, as it moves to restructure operations away from its core telecoms business.

In a statement issued today (10 June), KT noted the overall group aims to increase its workforce by 20 per cent between 2022 and 2026. The operator will invest KRW2.6 trillion to strengthen its content offering, and allocate KRW1.5 trillion on AI and big data initiatives. Another KRW3 trillion will be invested in promising start-ups.

The spending is part of a combined KRW27 trillion five-year investment, also covering network and data centre upgrades. It will spend about KRW1.7 trillion on cloud and data centre infrastructure.

Outside its investment budget, the operator also will spend KRW6 trillion to secure high-quality content from third parties.

KT is the second-largest mobile player in South Korea with 14.1 million subscribers at end-March.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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