KTF Co., South Korea's second-largest mobile communications operator, said Tuesday it will invest a total of 1.2 trillion won (US$1.3 billion) for next year.
The company also said it is aiming to double its sales and become the nation's largest mobile communications player over the next decade.
"We will concentrate our resources to become the nation's largest communications firm, more than double annual sales and triple the company's value by the end of 2015," KTF CEO Cho Young-chu told reporters in a press conference.
The envisioned investment next year will be mainly focused on upgrading its communications networks and finding new growth engines, Cho said.
The company plans to invest 400 billion won in expanding the coverage of high-speed downlink packet access or HSDPA, frequently called the 3.5-generation mobile communications platform.
South Korea's mobile communications market is mainly dominated by SK Telecom Co., which holds more than 50 percent of mobile phone users. KTF holds second place but its market share stood at 32.1 percent as of November.
KTF posted 303.9 billion won in earnings for the first nine months of this year, down 30.5 percent from the same period of 2005. Its sales for the three quarters stood at 4.86 trillion won.
Seoul, Dec. 19 (Yonhap News)
KTF to invest 1.2 tln won for next year |
