Profits dip at KTF, LG Telecom
KTF Co, the No.2 mobile operator, said earnings fell about 4.5 percent in the second quarter of 2003 because of higher interest payments and one-off charges. Smaller rival LG Telecom saw its net profit plunge 57 percent because of higher operating costs.
The companies compete in a crowded market with SK Telecom, which has 17.86 million subscribers, compared to 10.5 million for KTF and 4.8 million for LG Telecom. All three are looking to generate more sales from wireless data services and games. Continue >>