New Street Research - KT Corp (ADR) (KTC) KT Corp (Buy, TP: KRW 70,000, +93%) Q1 24 Quick Take: Better profitability; shares cancellation a positive

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New Street Research

Chris Hoare

EUR 9190.00 For Business Accounts Only

KT Corp (Buy, TP: KRW 70,000, +93%) Q1 24 Quick Take: Better profitability; shares cancellation a positive

Topline trend was better as B2B division improved while KT Cloud and KT Estate sustained double-digits growth again. While the company had earlier announced plans to expand its AI/ICT staff pool by up to 1k this year, so far labour costs remained under control as it is being offset by natural attrition of retirees.

10/05/2024 1 EN

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KT Corp (ADR)

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US48268K1016 Berlin Stock Exchange South Korea

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Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +93%) Q1 24 Quick Take: Better profitability; shares cancellation a positive

South Korean Telcos What could the telcos do to address the “Value-up” programme?

South Korean Telcos Takeaways from Meetings with the Korean Telcos in Seoul

Chinese AI ramp, Nvidia preview, WFE recovery, Cisco stabilization, Arm XPU initiative, and more. The Tech Weekly Wrap-up

NSR Policy: ACP and Spectrum: Update on Lowering Prospects for Legislative Relief

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

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