South Korea's KT Corp. has announced that it will invest 13 trillion won ($10.9 billion) until 2020 to explore its future growth engines and to realize more advanced "intelligent infrastructure".
The announcement of the ambitious investment plan was made by KT Chairman Hwang Chang-Gyu during a celebration on Wednesday of the 130th anniversary of the number 2 mobile carrier in the country. The company started out as a state telegram service body in 1885.
Hwang said KT's efforts to roll out various ICT-based services to be used for the energy, automobile and medical industries will enable the company to see annual sales of 5 trillion won by 2020.
He added that the company, which already boasts a long-term evolution (LTE) technology with a speed of 1 gigabyte per second, also plans to expand the speed to 20 Gbps by 2018 when the country is set to host the Winter Olympics.
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