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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] KT announced on Thursday that despite recording its highest-ever annual revenue of 26.43 trillion won in 2023, a 0.2% increase from the previous year, its operating profit dropped by 50.9% to 809.5 billion won. The company also reported a quarterly operating loss in Q4, a result of large severance payments and restructuring efforts.
KT's revenue in Q4 decreased by 1.7% to 6.58 trillion won, while it reported an operating loss of 655.1 billion won—the first such loss in over a decade. The severance payments, which averaged 300 million to 400 million won per employee, amounted to a one-time expense of over 1 trillion won. Excluding these costs, KT's operating profit for the year was 1.81 trillion won, up 9.8% compared to the previous year.
The company also noted growth in several business areas. Wireless service revenue increased by 1.7%, and IPTV and enterprise services also saw growth. KT has partnered with Microsoft to focus on AI and cloud services to expand its portfolio, including areas such as banking and real estate, which have shown positive growth. KT also declared a dividend of 500 won per share for Q4, with a total annual dividend increase from 1,960 won to 2,000 won per share.
KT continues to focus on strategic partnerships and its transformation into an AICT company.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
