Market Chatter: KT to Invest KRW18 Trillion to Transform into AI Platform Company

MT Newswires Live

Jul 07

KT (KRX:030200) plans to transform into an AI platform company with an investment of 18 trillion won, Yonhap News reported Monday, citing CEO Park Yoon-young from a press conference.

The South Korean telecommunications operator will inject 12 trillion won in cybersecurity, IT, and networks over the next three years, the report said.

The company will invest 4 trillion won to boost cybersecurity under a zero-trust framework and modernize its IT systems, while allocating 5 trillion won to construct AI data centers with a capacity of 1 gigawatt, the report added.

Shares of KT rose more than 1% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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