KT Corp (Buy, TP: KRW 70,000, +59%) New Corporate Value Up Plan Represents a Positive Step Forward
Following SK Telecom’s plan to improve corporate value, KT has highlighted three priorities to further its corporate value yesterday. Building up to its 9-10% return on equity target by 2028, it aims to build up its AICT contribution and improve EBIT margin to 9%, optimise latent value from non-core assets and has also guided for an additional KRW 1tn (US$ 0.72bn) in buybacks/cancellations, in excess of its current 50% shareholder remuneration policy. Our thoughts below.
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