KT feeling economic, competitive pressure

Korea Telecom, the incumbent teclo in South Korea that has been lauded in the past for its aggressiveness and broadband leadership, said this week it is lowering its sales and profit forecasts for this year because of declining wireline sales (sound familiar?) and rising marketing costs. KT holds about 90 percent of the fixed-line market, but number portability now is making it easier for customers to switch to KT's competitors. Meanwhile, KT may have to spend more to build up IPTV capabilities to battle competitors that have been more aggressive in that area.

For more:
- see this report at The Korea Times