South Korea’s leading telecommunications company KT Corp. plans to woo 500,000 subscribers to its newly launched artificial intelligence (AI)-based set-top box GiGa Genie this year, said its chief executive Hwang Chang-gyu.
With 500,000 subscriber base, KT will be able to provide a variety of services, including taxi-hailing and delivery services, armed with its payment system, big data analysis and shopping features, CEO Hwang said in his message to KT employees on Wednesday. He expected the GiGa Genie to help the company build a new breed of consumption platforms.
Hwang won a second term at KT with unanimous support in the board of directors meeting held in January. His extended term requires approval from a general shareholders’ meeting slated for March 24th.
In his first CEO’s message in 2017, Hwang also pledged to transform KT into a platform operator by achieving more than 30 percent revenues from non-telecom business areas by 2020, while elaborating on his five platform strategy - including media, smart energy, corporate and public values, financial transaction, and disaster and safety. At the same time, he asked employees to make the best use of KT’s capability to enhance the company’s core business which remains in the doldrums.
For full 2016, KT reported its best performance in five years with its operating profit reaching 1.44 trillion won ($1.27 billion) and revenue of 22.7 trillion won thanks to upbeat performance in wireless and Internet-based services.
By Lim Sung-hyun
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