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KT Corporation
KT Corporation (Hangul: 주식회사 케이티), formerly Korea Telecom, is a South Korean telecommunications company, mobile network operator (MNO) and mobile virtual network operator (MVNO). KT is the third-largest wireless carrier in South Korea, with 13.5 million subscribers as of Q4 2023.[citation needed]
The formerly fully-state-owned firm (the government's National Pension Service currently owns 12.19% shares and is the largest shareholder) is South Korea's first telecommunications company and is a major supplier of the local landline and broadband internet market, serving about 90 percent of the country's fixed-line subscribers and 45 percent of high-speed Internet users. After selling its wireless affiliate Korea Mobile Telecom in 1994, KT returned to the wireless market with the creation of PCS carrier KTF in January 1997.
The company's merger with KTF, its wireless subsidiary, in 2009 made it the country's ninth largest chaebol (conglomerate) with nearly 24 trillion won in assets as of 2009.
In January 2011, KT launched unified brand "Olleh" for both fixed-line and cellular broadband services.
Founded in 1981 as a public utility, KT played a major role in Korea's development in the information technology hub sector. KT sold its wireless affiliate in 1994, founding another in 1996 and becoming, along with LG Dacom, one of Korea's earliest ISPs. In 2001 KT acquired struggling broadband provider Thrunet, then the largest broadband company in Korea, which paved the way for KT to dominate the broadband market. In 2009, KT merged with its wireless subsidiary KTF, paving the way to the integration of landline and cellular services. Ever since KT introduced the Apple iPhone to South Korea, it has been constantly seeking new business areas, such as media, e-commerce, and global business partnerships. 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. Under the current shareholder structure, no controlling shareholder exists.
KT's Board of Directors (BOD) consists of three non-independent directors and eight outside directors, totalling 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.
As of 2012 KT customers can receive the services on any of radio frequency band assigned, one or more of radio interfaces.
The KT Corp was the first operator to introduce the iPhone to the South Korean market in November 2009. The next generation model sold one million units within four months of its September 2010 launch. KT launched the iPad in November 2010.
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KT Corporation
KT Corporation (Hangul: 주식회사 케이티), formerly Korea Telecom, is a South Korean telecommunications company, mobile network operator (MNO) and mobile virtual network operator (MVNO). KT is the third-largest wireless carrier in South Korea, with 13.5 million subscribers as of Q4 2023.[citation needed]
The formerly fully-state-owned firm (the government's National Pension Service currently owns 12.19% shares and is the largest shareholder) is South Korea's first telecommunications company and is a major supplier of the local landline and broadband internet market, serving about 90 percent of the country's fixed-line subscribers and 45 percent of high-speed Internet users. After selling its wireless affiliate Korea Mobile Telecom in 1994, KT returned to the wireless market with the creation of PCS carrier KTF in January 1997.
The company's merger with KTF, its wireless subsidiary, in 2009 made it the country's ninth largest chaebol (conglomerate) with nearly 24 trillion won in assets as of 2009.
In January 2011, KT launched unified brand "Olleh" for both fixed-line and cellular broadband services.
Founded in 1981 as a public utility, KT played a major role in Korea's development in the information technology hub sector. KT sold its wireless affiliate in 1994, founding another in 1996 and becoming, along with LG Dacom, one of Korea's earliest ISPs. In 2001 KT acquired struggling broadband provider Thrunet, then the largest broadband company in Korea, which paved the way for KT to dominate the broadband market. In 2009, KT merged with its wireless subsidiary KTF, paving the way to the integration of landline and cellular services. Ever since KT introduced the Apple iPhone to South Korea, it has been constantly seeking new business areas, such as media, e-commerce, and global business partnerships. 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. Under the current shareholder structure, no controlling shareholder exists.
KT's Board of Directors (BOD) consists of three non-independent directors and eight outside directors, totalling 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.
As of 2012 KT customers can receive the services on any of radio frequency band assigned, one or more of radio interfaces.
The KT Corp was the first operator to introduce the iPhone to the South Korean market in November 2009. The next generation model sold one million units within four months of its September 2010 launch. KT launched the iPad in November 2010.