KT Corp ends Q1’09 with 9% fall in net profits (South Korea)

www.WirelessFederation.com/news: KT Corp, the South Korean telco, has reported a drop of 9% in its Q1’09 net profits driven by slowdown in its fixed-line calls and the impact of discounts for subscribers on bundled services and long-term contracts.
KT, which holds 90% of the total South Korean fixed-line market and 43% of the total broadband subscriber, posted a 139.6 billion won ($103.3 million) net profit in January-March.
KT, in order to enhance its subscriber base and service offerings in the saturated South-Korean market, is set to merge its operations with the mobile operator KTF.