New Street: Korean Telcos Outlook 2023; Expect another good year
2022 was a good year for the Korean Telcos, and we think 2023 will be too. 5G should continue to drive ARPU upside on the consumer mobile side, while Enterprise, Datacentre and Content revenues should also be strong. KT is our top pick, and we think has the potential to double over time.KT is a provider of telecommunications services in the Republic of Korea (the "ROK", South Korea). Co. provides telephone services, Internet phone services, mobile phone services, Internet services and Internet protocol television services. Its telephone services include local, domestic and international long-distance fixed-line telephone services. Its Internet phone services include voice over Internet protocol services. Its mobile phone services include mobile telecommunication services and third generation mobile phone telecommunication services. Its Internet services include fiber to the home services.
SK Telecom is a wireless telecommunications services provider in the Republic of Korea (South Korea). Co. provides the following services: wireless Internet services, which include music portal services, game portal services, multimedia services, and wired and wireless integrated multimedia services; ubiquitous and convergence services, which include telematics, digital home, commerce, mobile radio frequency identification and mobile community; international roaming services, which include global system for mobile communication; video telephony services, which enable subscribers incorporating video conferences, as well as B2B services.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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