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olivLaw · US equity research

KT Corporation KT

Telephone Communications (No Radiotelephone) · SIC 4813 · Vertical: Telephone Communications (No Radiotelephone) (SIC 4813)

18.46USD+4.35% · 1 dayClose 04 Nov 2026

KT Corporation is the largest integrated telecommunications and platform provider in Korea, with a dominant position in fixed-line and broadband services. In 2025 it aims to become an AI-driven ICT company, so the structure of its revenue and the investment in new services are worth following. Operating revenue reached 28548 billion won, and mobile generated 26.6% of it.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, KT Corporation (KT) stock was 18.46 USD (+4.35% on the day), with beta 0.34, 52-week range 16.78–24.54 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
unavailable
shares as of 31 Dec 2025
P/E (TTM)
unavailable
Diluted EPS TTM 1,868.00 · TTM to 31 Dec 2024
E/P (TTM)
unavailable
TTM to 31 Dec 2024
Dividend yield
unavailable
Beta (2y)
0.34
Volatility (1y) 23%
52-week range
16.7824.54

Price history

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Technical reading

RSI (14)
55.9
strong (55–70)
Bollinger (20, 2)
16.57 – 19.19
in the upper half of the band · %B 0.72 · band width 14.6%
SMA 50 / 200
18.84 / 19.87
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.36 / -0.43
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−2.9%−1.1%−1.8 pp—
3 months+1.5%−0.5%+2.0 pp—
6 months−12.8%+4.4%−17.2 pp—
Year to date−2.7%+12.3%−15.0 pp—
1 year−0.2%+13.5%−13.7 pp−14.4%
3 years+44.9%+76.4%−31.5 pp+3.2%
5 years+43.3%+63.7%−20.4 pp—
Max drawdown (1y)
−31.6%
20 Feb 2026 → 28 Oct 2026
Max drawdown (5y)
−31.6%
20 Feb 2026 → 28 Oct 2026
Compound annual growth (5y)
+7.5%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

the price (USD) and the reports are in different currencies

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20172018201920202021202220232024
Revenue23,546.9 bn23,436.1 bn24,899.2 bn24,099.4 bn24,898.0 bn25,638.9 bn26,287.2 bn26,379.6 bn
Revenue YoY+1.7%−0.5%+6.2%−3.2%+3.3%+3.0%+2.5%+0.4%
Net income461.6 bn645.6 bn645.7 bn700.9 bn1,356.9 bn1,260.5 bn993.3 bn459.9 bn
Net income YoY−38.1%+39.9%+0.0%+8.5%+93.6%−7.1%−21.2%−53.7%
Diluted EPS1,883.002,634.002,632.002,858.005,747.005,196.003,977.001,868.00
Diluted EPS YoY−38.1%+39.9%−0.1%+8.6%+101.1%−9.6%−23.5%−53.0%
net %2.0%2.8%2.6%2.9%5.4%4.9%3.8%1.7%
Free cash flowunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2024 · 31 Dec 2024

Cash
3,716.7 bn KRW
Financial debt
6,615.9 bn KRW
Net debt
2,899.3 bn KRW
Equity
17,967.6 bn KRW
Total assets
42,002.8 bn KRW
Debt / equity
0.37x
Current ratio
1.02x
ROE
2.5%
ROA
1.1%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (KRW)

Margins

Income statement · KRW

Revenue
2022
25,638.9 bn
2023
26,287.2 bn
2024
26,379.6 bn

SEC (XBRL)· 29 Apr 2025verified

Research & development
2022
174.9 bn
2023
—
2024
—

SEC (XBRL)· 28 Apr 2023verified

Operating income
2022
1,968.2 bn
2023
1,428.4 bn
2024
640.1 bn

SEC (XBRL)· 29 Apr 2025verified

Depreciation & amortisation
2022
3,655.9 bn
2023
3,810.1 bn
2024
3,877.7 bn

SEC (XBRL)· 29 Apr 2025verified

EBITDA
2022
5,624.0 bn ≈
2023
5,238.6 bn ≈
2024
4,517.8 bn ≈

SEC (XBRL)· 29 Apr 2025derived

Interest expense
2022
749.9 bn
2023
568.7 bn
2024
994.8 bn

SEC (XBRL)· 29 Apr 2025verified

Pre-tax income
2022
1,891.4 bn
2023
1,302.6 bn
2024
571.5 bn

SEC (XBRL)· 29 Apr 2025verified

Income tax
2022
505.8 bn
2023
330.4 bn
2024
164.8 bn

SEC (XBRL)· 29 Apr 2025verified

Net income
2022
1,260.5 bn
2023
993.3 bn
2024
459.9 bn

SEC (XBRL)· 29 Apr 2025verified

Diluted EPS
2022
5,196.00
2023
3,977.00
2024
1,868.00

SEC (XBRL)· 29 Apr 2025verified

Weighted average diluted shares
2022
242.3 m
2023
249.6 m
2024
246.0 m

SEC (XBRL)· 29 Apr 2025verified

Dividend per share
2022
1,862.19
2023
2,137.98
2024
3,548.55

SEC (XBRL)· 29 Apr 2025derived

Balance sheet · KRW

Cash
2022
2,449.1 bn
2023
2,879.6 bn
2024
3,716.7 bn

SEC (XBRL)· 29 Apr 2025verified

Receivables
2022
6,098.1 bn
2023
7,170.3 bn
2024
6,147.5 bn

SEC (XBRL)· 29 Apr 2025verified

Inventories
2022
717.7 bn
2023
988.4 bn
2024
1,054.7 bn

SEC (XBRL)· 29 Apr 2025verified

Current assets
2022
12,690.0 bn
2023
14,594.2 bn
2024
14,366.4 bn

SEC (XBRL)· 29 Apr 2025verified

Property, plant & equipment, net
2022
14,772.2 bn
2023
14,872.1 bn
2024
14,825.8 bn

SEC (XBRL)· 29 Apr 2025verified

Goodwill
2022
708.2 bn
2023
488.4 bn
2024
273.8 bn

SEC (XBRL)· 29 Apr 2025verified

Total assets
2022
40,989.8 bn
2023
42,791.6 bn
2024
42,002.8 bn

SEC (XBRL)· 29 Apr 2025verified

Accounts payable
2022
7,333.2 bn
2023
8,054.9 bn
2024
7,394.8 bn

SEC (XBRL)· 29 Apr 2025verified

Short-term debt
2022
—
2023
—
2024
—

SEC (XBRL)· 30 Apr 2021verified

Long-term debt
2022
8,179.6 bn
2023
7,159.6 bn
2024
6,615.9 bn

SEC (XBRL)· 29 Apr 2025verified

Current liabilities
2022
10,699.3 bn
2023
13,247.6 bn
2024
14,026.5 bn

SEC (XBRL)· 29 Apr 2025verified

Total liabilities
2022
22,577.1 bn
2023
24,249.1 bn
2024
24,035.2 bn

SEC (XBRL)· 29 Apr 2025verified

Equity
2022
18,412.7 bn
2023
18,542.6 bn
2024
17,967.6 bn

SEC (XBRL)· 29 Apr 2025verified

Shares outstanding at year end
2022
256.0 m
2023
246.4 m
2024
245.8 m

SEC (XBRL)· 29 Apr 2025verified

Cash flow · KRW

Operating cash flow
2022
3,597.1 bn
2023
5,503.3 bn
2024
5,065.8 bn

SEC (XBRL)· 29 Apr 2025verified

Investing cash flow
2022
-4,838.6 bn
2023
-4,620.5 bn
2024
-2,845.4 bn

SEC (XBRL)· 29 Apr 2025verified

Financing cash flow
2022
669.3 bn
2023
-452.8 bn
2024
-1,390.1 bn

SEC (XBRL)· 29 Apr 2025verified

Dividends paid
2022
476.8 bn
2023
526.8 bn
2024
872.4 bn

SEC (XBRL)· 29 Apr 2025verified

Share repurchases
2022
0
2023
300.1 bn
2024
27.1 bn

SEC (XBRL)· 29 Apr 2025verified

Computed indicators

Growth

Revenue growth (YoY)
0.4%
computed by olivLawFY 2024
Revenue CAGR 3Y
1.9%
computed by olivLawFY 2021 → FY 2024
Revenue CAGR 5Y
1.2%
computed by olivLawFY 2019 → FY 2024
EBIT growth (YoY)
-55.2%
computed by olivLawFY 2024
Net income growth (YoY)
-53.7%
computed by olivLawFY 2024
Net income CAGR 3Y
-30.3%
computed by olivLawFY 2021 → FY 2024
Net income CAGR 5Y
-6.6%
computed by olivLawFY 2019 → FY 2024
EPS growth (YoY)
-53.0%
computed by olivLawFY 2024
EPS CAGR 3Y
-31.2%
computed by olivLawFY 2021 → FY 2024
EPS CAGR 5Y
-6.6%
computed by olivLawFY 2019 → FY 2024
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
17.1%
computed by olivLawFY 2024
EBIT margin
2.4%
computed by olivLawFY 2024
Net margin
1.7%
computed by olivLawFY 2024
FCF margin
unavailable
input data missing

Returns

ROE
2.8%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROA
1.1%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROIC
2.1%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROCE
2.3%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Payout ratio (EPS)
190.0%
computed by olivLawFY 2024
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
2,899.3 bn KRW
computed by olivLawbalance sheet at 31 Dec 2024
Net debt / EBITDA
0.6x
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Debt / equity
0.4x
computed by olivLawbalance sheet at 31 Dec 2024
Interest coverage
0.6x
computed by olivLawFY 2024

Liquidity

Current ratio
1.0x
computed by olivLawbalance sheet at 31 Dec 2024
Quick ratio
0.9x
computed by olivLawbalance sheet at 31 Dec 2024
Cash ratio
0.3x
computed by olivLawbalance sheet at 31 Dec 2024

Cash

Operating cash flow
5,065.8 bn KRW
computed by olivLawFY 2024
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
112.1%
computed by olivLawFY 2024

Efficiency

Days sales outstanding
92 days
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
input data missing
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 54.2% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

18.46 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: unavailable

Price and reporting are in different currencies; market indicators are unavailable.

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
2.8%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Net margin
1.7%
computed by olivLawFY 2024
Revenue growth (YoY)
0.4%
computed by olivLawFY 2024
Dividend yield
unavailable
input data missing

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2024
Latest reported period: 31 Dec 2024
Latest balance sheet date: 31 Dec 2024
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: SEC (XBRL)published 29 Apr 2026
verified 322derived 8

The data is older than the freshness threshold.

Score by group

54% · Insufficient data

Estimated value range

unavailable — no valuation assumptions for the reporting currency

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

    Multiple comparisons use the SIC vertical: Telephone Communications (No Radiotelephone) (SIC 4813)

    Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

    Assumptions (illustrative, editorial)

    Risk-free rate
    6.5%
    Equity risk premium
    6.0%
    Beta (default)
    1.00
    Cost of equity
    12.5%
    Terminal growth
    3.0%

    Factor scorecard

    Insufficient data

    Minimum-evidence gate: score weight coverage: 54.2% of at least 60%

    FactorValueScoreWeight used
    ROIC · Quality2.1%38 (vs peers)19%
    Net margin · Quality1.7%35 (vs peers)12%
    FCF conversion · Qualityunavailableunavailable—
    Revenue CAGR 3Y · Growth1.9%16 (on a fixed band)15%
    EPS CAGR 3Y · Growth-31.2%0 (on a fixed band)15%
    Net debt / EBITDA · Balance sheet0.6x36 (vs peers)19%
    Interest coverage · Balance sheet0.6x0 (on a fixed band)12%
    Current ratio · Balance sheet1.0x19 (on a fixed band)8%
    P/E (TTM) · Valuationunavailableunavailable—
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuationunavailableunavailable—
    Shareholder yield (distributions) · Returnsunavailableunavailable—
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet22/100 · 3/3 factors with a value
    • Growth8/100 · 2/2 factors with a value
    • Quality37/100 · 2/3 factors with a value
    • Returns· partialunavailable · 0/2 factors with a value
    • Valuation· partialunavailable · 0/3 factors with a value

    A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

    Memo

    KT Corporation (KT). Latest full fiscal year: 2024; data up to 2024-12-31.

    Figures computed from the financial statements: revenue 26,379.6 bn KRW in 2024; YoY growth 0.4%; net margin 1.7%; ROE 2.8%; net debt/EBITDA 0.6x.

    The estimated value range is 25,511.15–43,000.05 KRW per share (median of 3 methods, agreement: low); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.

    Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

    What contradicts it

    • Revenue CAGR 3Y: 1.9%
    • EPS CAGR 3Y: -31.2%
    • Interest coverage: 0.6x
    • Current ratio: 1.0x
    • The valuation methods diverge

    Not assessed (insufficient data or a ratio without meaning): FCF conversion, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

    Versus the vertical median

    Telephone Communications (No Radiotelephone) (SIC 4813) · same industry (4-digit SIC) · compared with 20 companies

    Multiples and returns vs the median

    P/E
    —
    vertical median 11.8x
    EV/EBITDA
    —
    vertical median 3.8x
    P/S
    —
    vertical median 0.8x
    P/B
    —
    vertical median 1.3x
    ROE
    2.8%
    vertical median 10.7%
    below median (−73.8%)
    Net margin
    1.7%
    vertical median 8.4%
    below median (−79.3%)
    EBIT margin
    2.4%
    vertical median 7.3%
    below median (−66.7%)
    Revenue YoY
    0.4%
    vertical median 2.7%
    below median (−87.2%)
    Net debt/EBITDA
    0.6x
    vertical median 0.4x
    above median (+60.8%)
    Dividend yield
    —
    vertical median 0.4%

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    AMXAmerica Movil Sab De Cv1,508.4 bn1,107.56.8%3.2%−11.2%+8% / +38%
    VZVerizon Communications Inc.191.4 bn11.815.4%11.8%+2.5%+12% / +20%
    TAt&T Inc.147.1 bn11.810.5%10.2%+2.7%−16% / +32%
    LUMNLumen Technologies, Inc.4.6 bn——-5.8%−5.4%−45% / +241%
    TDSTelephone And Data Systems, Inc.4.1 bn11.48.2%33.2%−5.3%−11% / +83%
    ATEXAnterix Inc.1.5 bn22.227.9%933.0%+7.8%+278% / +138%
    UNITUniti Group Inc.1.3 bn1.7666.9%30.4%+91.5%−14% / −41%
    SHENShenandoah Telecommunications Company575.2 m—-4.4%-10.2%+9.1%−5% / −53%
    ATNIAtn International, Inc.397.3 m2.432.2%23.2%−0.2%+22% / −15%
    CXDOCrexendo, Inc.174.7 m43.65.6%4.5%+12.0%−25% / +78%
    NXPLNextPlat Corp21.8 m—-43.1%-17.8%−17.8%+34% / −47%
    IQSTIQSTEL Inc.9.0 m—-56.0%-2.2%+11.9%−80% / −94%
    SURGSurgepays, Inc.8.2 m——-47.9%−6.4%−92% / −98%
    KTKT Corporation——2.8%1.7%+0.4%−0% / +45%
    CTGGQwest Corp0—-15.8%-40.1%−13.8%unavailable / unavailable
    TKCTurkcell Iletisim Hizmetleri A S——10.8%11.7%+14.6%−15% / −5%
    TIMBTim S.A.——17.1%16.2%+4.6%−22% / +3%
    PHIPLDT Inc.——29.3%14.9%+2.8%−19% / −22%
    BCEBce Inc.——32.5%26.6%+0.2%−10% / −46%
    IDTIDT Corporation—24.325.4%6.7%+5.4%+69% / +186%
    TEOTelecom Argentina SA——-2.4%-2.0%+53.0%−17% / +26%

    1- and 3-year price returns: for KT from daily closes (the same as the performance table), for the other companies from month-end closes.

    olivLaw engine forecast

    The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

    The engine has no published run for this company yet.

    Valuation scenarios (editable assumptions)

    Illustrative scenarios

    Scenarios are not available. input data missing

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (04 Nov 2026), 6-K (23 Oct 2026), 6-K (13 Oct 2026), 6-K (09 Sept 2026), 6-K (03 Sept 2026).

    In brief

    KT Corporation is the largest integrated telecommunications and platform provider in Korea, with a dominant position in fixed-line and broadband services. In 2025 it aims to become an AI-driven ICT company, so the structure of its revenue and the investment in new services are worth following. Operating revenue reached 28548 billion won, and mobile generated 26.6% of it 1.

    SWOT

    Strengths

    • Dominant position in local fixed-line telephony and broadband, supported by a nationwide fiber network 1.
    • Diversified portfolio with media, financial and real estate businesses that complement telecom revenue 1.
    • Large base of mobile and IPTV subscribers that supports bundled service sales 1.

    Weaknesses

    • Fixed-line voice revenue keeps declining as customers shift to mobile 1.
    • Local tariffs are regulated, limiting pricing freedom 1.
    • Spectrum and network investment costs are high and may weigh on profitability 1.

    Opportunities

    • The AX platform vision could open new data and platform revenue if AI services scale 1.
    • Fiber and 5G infrastructure can support high-bandwidth services and high-definition media 1.
    • Acquisitions of complementary businesses could diversify activity if integrated effectively 1.

    Threats

    • Intense competition and price pressure from new entrants could reduce tariffs 1.
    • Changes in government policy could alter market and regulatory conditions 1.
    • OTT services and messaging apps compete with traditional telephony and media services 1.

    Risks

    • Competitive pressurehigh

      Competition with the two main rivals and possible new entrants could affect market share and tariffs if the company does not adapt 1.

    • Tariff regulationmedium

      Designation as a market-dominating entity requires reporting and limits on local tariffs, which can affect profits 1.

    • Cost of radio spectrummedium

      Reallocation of 3G and 4G LTE bands in 2026 could bring significant additional payments 1.

    • Success of new servicesmedium

      There is no assurance that new AI-based services will gain enough market acceptance to justify the investment 1.

    • Acquisitions and debtlow

      The acquisition strategy may require additional borrowing, which could increase debt and financing costs 1.

    Investment thesis

    What would need to be true (bull case)

    • If the AI platform transformation succeeds, the company could monetize its connectivity infrastructure through new services 1.
    • Leadership in broadband and local fixed-line telephony provides a stable customer base 1.
    • Diversification into media and financial services could offset the decline of voice telephony 1.

    What would break the thesis

    • Continued decline of fixed-line telephony could erode legacy revenue faster than new revenue grows 1.
    • Intense competition and tariff regulation could limit the ability to maintain margins 1.
    • Spectrum and network investment costs could pressure profitability 1.

    What to watch

    • Results of the early quarters of the AI transformation and revenue from new platform services2026
    • Payments and conditions for reallocation of the 900 MHz, 1.8 GHz and 2.1 GHz bands2026
    • Trend in PSTN subscribers and fixed-line local telephony market sharenext 10-K
    • Any decision to authorize a fourth mobile provider or change in tariff rules2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (04 Nov 2026), 6-K (23 Oct 2026), 6-K (13 Oct 2026), 6-K (09 Sept 2026), 6-K (03 Sept 2026).

    The business

    KT Corporation is an integrated telecommunications and platform service provider in Korea, which the company describes as one of the most advanced in Asia 1. It plans to become an AI-driven ICT company, integrating AI into its existing communications business and expanding into new AI-based services under an 'AX platform' vision 1. Operating revenue for 2025 was 28548 billion won and profit for the year was 1825 billion won 1.

    The business spans mobile, fixed-line, broadband, media and content, financial services and real estate, with a dominant position in fixed-line telephony built on a large customer base 1. Sales of goods such as handsets rose to 17.0% of revenue in 2025 1.

    Operating profit under K-IFRS was 2470 billion won in 2025, with the company reporting under both IFRS and K-IFRS, which differ in revenue recognition for real estate 1.

    Segments

    Mobile services

    Mobile services, based on 5G, 4G LTE and 3G technologies, accounted for 26.6% of operating revenue in 2025 1. The company had about 29.0 million mobile subscribers at December 31, 2025, of which 20.6 million were MNO and 8.4 million MVNO subscribers 1.

    Fixed-line and broadband

    The fixed-line and VoIP telephone segment, together with broadband and data services, made up a little over a fifth of revenue in 2025, with a 51.7% share of fixed-line local telephone and VoIP services 1. In broadband the company holds a 40.3% share, supported by a fiber network of 968465 kilometers 1.

    Media, content and financial services

    Media and content services, including IPTV and satellite TV, accounted for 10.8% of 2025 revenue, and financial services through BC Card accounted for 12.2% 1. The company owns 69.5% of BC Card, which gives it a diversified portfolio beyond telecommunications 1.

    Market context

    The Korean telecom market is dominated by three network service providers, and KT leads in local fixed-line telephony and broadband 1. In mobile it holds a 28.9% share of MNO subscribers, competing with SK Telecom and LG U+ 1. The decline in long-distance and local call volumes, driven by mobile phones and unlimited plans, shows structural pressure on fixed-line voice 1.

    Regulators influence the market, and KT is designated a market-dominating business entity in local telephony 1. If new entrants or tariff rules expand, price pressure could rise and weigh on margins 1.

    Trends

    • Investment in 5G and fibermixed

      The 5G network was extended nationwide in April 2024, and the company keeps upgrading its fiber-to-the-home network 1. These investments could support data and broadband revenue but raise capital spending 1.

    • Reallocation of frequency bandsheadwind

      Some bands used for 3G and 4G LTE are due to be reallocated in 2026, with additional payments and new coverage requirements 1. Spectrum costs could rise but may also support network capacity 1.

    Competitive position

    Competition is intense across the main businesses, mainly from SK Telecom and LG U+, which have each acquired a leading cable TV operator 1. The company also competes with MVNOs, VoIP providers, cable operators and OTT services such as Netflix 1. In financial services, BC Card competes with issuers such as Shinhan Card, Hyundai Card and Samsung Card 1.

    A fourth mobile provider was attempted, but the Stage X license was revoked in July 2024, keeping the three-player structure 1. If a new entrant were authorized, price pressure could increase 1.

    • SK Telecom

      Main rival in mobile and media, with a longer operating history 1.

    • LG U+

      Rival in mobile, fixed-line and media that began service at about the same time as KTF 1.

    • Shinhan Card

      Credit card issuer competing with BC Card and running its own payment network 1.

    • Kakao Corp.

      Text messaging provider competing with the company's communication services 1.

    News & filings

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.