KT Corp seeks international expansion

KT Corp says that it targeting sales of KRW3.9 trillion (USD3.4 billion) from international operations by 2015. The telco says that it plans to focus on emerging markets by buying stakes in operators or forming strategic partnerships. ‘The current situation is making it increasingly difficult to survive without breaking away from the traditional market and diversifying into other business areas. KT has been changing its business portfolio to strive forward. Going global is part of the transformation,’ said Kim Hong-jin, senior executive vice president at KT. Currently, just 2% of KT’s KRW25 trillion sales in 2011 were derived outside of the company’s home market of South Korea. KT says that it is still hopeful of securing a 20% stake in Telkom South Africa, despite reported opposition from the South African government.