KT CEO Koo Hyun-mo (KT)
KT CEO Koo Hyun-mo has told executives and employees in a company-wide email that the mobile carrier needs to move beyond network service provision to become a platform operator.
The KT CEO’s announcement followed several recent changes at the corporation. KT Skylife last month was selected as the preferred bidder to acquire cable TV operator Hyundai HCN. KT also inked a partnership with Netflix to improve the quality of its pay TV platform.
“KT has started to undertake practical and fundamental changes amid COVID-19 and the economic fallout,” Koo said in the email, according to Yonhap.
More changes are expected to follow in the second half this year.
KT is bringing efforts to normalize functions of K bank since it became the internet-only bank’s largest shareholder. KT also intends to increase cooperation with Hyundai Robotics where the mobile carrier invested 50 billion won and became the second largest shareholder.
Koo said the company, in the meantime, should expand its 5G network infrastructure, while improving artificial intelligence capabilities.
“5G is the core infrastructure that will connect AI, big data and cloud server through which various business sectors can increase productivity,” Koo said. He added the company would increase cooperation with partners in AI One Team, a cooperating body dedicated to enhance AI technology and develop related solutions.
Currently the team includes telecommunications firms KT and LG Uplus along with LG Electronics, Hyundai Heavy Industries, Korea Advanced Institute of Science and Technology, Hanyang University and the Electronics and Telecommunications Research Institute.
The KT CEO noted that the company will seek new business opportunities in line with socioeconomic changes that follow the viral outbreak. The company will also be in tune with the government’s “New Deal” project, he said.
By Shim Woo-hyun (email@example.com)