[Concall] KT "Network Usage Fees, Compliance with Netflix-Related Laws and Service Stabilization"
[Asia Economy Reporter Seulgina Jo] KT stated during the Q2 earnings conference call on the 7th afternoon, "Currently, the Enforcement Decree of the Telecommunications Business Act regarding the obligation of global CPs to maintain network quality is being prepared, and we will faithfully comply with government policies in accordance with the law revision." They added, "Both companies (KT and Netflix) have agreed to comply with the relevant laws and work together to stabilize the service."
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KT recorded consolidated sales of KRW 5.8765 trillion and operating profit of KRW 341.8 billion under Korean International Financial Reporting Standards (K-IFRS) for Q2. While sales decreased by 3.6% compared to the same period last year, operating profit increased by 18.6%.
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