Nam Joong-soo, CEO of KT pledged that IPTV is a core business for KT's transformation into a media entertainment company. Nam said that KT would seek collaboration with leading media groups around the world. Accordingly, the telco has decided to put 710 billion won (E4.6 billion) in network enhancement to provide real time IPTV service. By the end of 2008, 70 per cent of networks will be replaced with FTTH. In 2010, 95 per cent will be using FTTH, said KT. In addition, the company plans to spend 70 billion won in IPTV platform expansion and 40 billion won in premium network upgrades.
KT estimated that the IPTV service would contribute 12.9 trillion won to the national economy. As many as 70,000 jobs would be created and digital gap within the nation and heavy private education cost issue could be addressed, said KT.