KT Corp profit for second quarter down by a third

SEOUL: South Korea’s top fixed-line and Internet broadband operator KT Corp reported yesterday a one-third drop in quarterly profits as growth in the country’s once-torrid telecoms market begins to slow down. 

KT’s core earnings, with no help from special gains this time, have come under pressure as customers migrate to mobile phones from fixed lines and growth in South Korea’s broadband Internet market – per capita, the world’s biggest – becomes increasingly slow.