South Korean operator KT established an investment arm to drive growth of its digital platforms and forge partnerships to accelerate diversification from core telecoms services, The Korea Herald reported.
The operator told the newspaper the Group Transformation unit will look for potential partnerships and investment opportunities, along with leading efforts around possible mergers and acquisitions globally.
It also will study spinning off or listing its affiliates.
The Korea Herald added the unit was set up under the CEO’s office and will be led by Yoon Kyung-lim, head of KT’s its media, future convergence and global businesses.
During its 2020 earnings call, CFO Kim Young-jin noted KT aimed to fuel growth by restructuring [1] its commerce, media content and financial service units.
[1] https://www.mobileworldlive.com/asia/asia-news/kt-predicts-2021-recovery-after-mobile-rebound
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