KT Corporation also known as KT or KT Telecom and formerly Korea Telecom is a South Korean integrated wired/wireless telecommunication service provider. KT focuses on information and communications business, and it has the largest portion of the South Korean local telephone and high-speed Internet market.
Originally founded in 1981 as a public corporation, KT actively led Korea's transition to the information era and played a key role in promoting the growth of Korea into a globally recognized IT superpower. In 2009, KT merged with its mobile subsidiary KTF, paving the way to the convergence of fixed and mobile services. Since KT initially introduced the Apple iPhone to South Korea, it constantly seeks new business area, such as media, virtual goods, and global business with its domestic businesses experience. The company has a well-distributed shareholder structure under which the National Pension Service (NPS) is the largest shareholder (6.81% as of December 31, 2012), but NPS holds no managerial rights over the company. Under the current shareholder structure, no controlling shareholder exists.
KT is the first and the largest telecom company in Korea. The company’s operation initially started in 1885, then known as Hanseong Telegraph Office. In 1980’s, KT introduced fixed line telephones to households as a leader in the communication market, and in 1990’s, it became a leader both in wired and wireless communication markets by introducing as many as 20 million lines in fixed telephones and mobile phone with PCS as well as high-speed internet ADSL, paving a way for KT to become a representative communication service provider in Korea. After its complete privatization in 2002, KT has led the informatization era by introducing high speed internet and 3G mobile communication service for the first time within the country.
- September 28, 1885: Telephone facilities set up between the cities Seoul and Incheon
- December 1981: KTA established
- 1984: Tenth in the world to develop the electronic switch TDX-1
- 1987: Completed nationwide installation of phone automation service
- 1991: Company renamed Korea Telecom
- 1993: Total of approximately 20 million telephone lines installed (only 4.5 million existed in 1982), thereby establishing the basis for advancement to the information society
- 1995: Mugunghwa Satellite No. 1 (KoreaSat-1) launched
- 1996: Mugunghwa Satellite No. 2 (KoreaSat-2) launched
- 1996: PCS and CT-2 license acquired. KT Freetel (mobile business) founded.
- 1997: Status changed from organization which has 50%+ state funding to one with a state funding of smaller scale (below 50%)
- 1998: Headquarters relocated from Jongno-gu, Seoul, to Bundang-gu, Gyeonggi Province
- December 1998: Newly listed on stock exchange
- 1999: Mugunghwa Satellite No. 3 (KoreaSat-3) launched
- June 2000: Managerial rights of Hansol M.com acquired
- April 2001: Caller ID (CID) service launched
- May 2001: Plans for privatization announced. Celebrated 20th anniversary and changed CI from Korea Telecom to KT.
- 2002: Privatization of company completed
- 2005: According to Fair Trade Commission data, KT as a corporate group that holds 12 subsidiaries and total assets of 29.315 trillion won, ranked 8th among Korea’s conglomerates.
- January 2009: Six days after inauguration as the new Chairman of KT, Suk-Chae Lee announced plans for KT-KTF merger at press conference
- March 2009: Received conditional approval from Korea Communications Commission (KCC) on KT-KTF merger
After KT-KTF merger
- June 1, 2009: KT and its mobile subsidiary KTF merged to form a new unified KT
- July 2009: Previous company slogan “All New” replaced with “Olleh Management,”and “Olleh KT” officially launched as the new CI
- July 2009: Koreasat-1 was sold to Europe*Star as Europe*Star B. Koreasat 2 was sold to Asia Broadcast Satellite and renamed it as ABS-1A
- 2010: KoreaSat-3 satellite was sold to Asia Broadcast Satellite and renamed it in ABS-7.
www.space.com update Aug 22nd, 2006