[Asia Economy Reporter Park So-yeon] KT, which posted strong first-quarter results, continues to show strong performance.
As of 10:32 AM on the 18th, KT is trading at 32,450 won on the KOSPI market, up 1,200 won (3.84%) from the previous day.
Mirae Asset Securities released a report on the 12th stating that KT's media and B2B sectors are expected to drive growth going forward.
Researcher Lee Hak-moo of Mirae Asset Securities said, "The strategy to strengthen dominance in the media market by enhancing content production capabilities based on platform dominance centered on IPTV and the OTT service Seezn is considered effective."
Researcher Lee Hak-moo explained, "In the first quarter as well, the combined sales of these content subsidiaries confirmed a high growth of 12.2% compared to the same period last year."
He added, "It is positive that KT is strengthening its 5G dominance and smoothly recruiting subscribers through efficient marketing expenditure, rapidly improving profitability," and said, "Reflecting the high growth potential in media and B2B businesses, we are raising the target stock price to 38,500 won."
Meanwhile, KT is working to create a metaverse ecosystem through an alliance with domestic automobile, telecommunications, and internet companies such as Hyundai Motor, Naver, and Kakao.
The metaverse is a compound word of 'Universe,' meaning the real world, and 'Meta,' meaning processing or abstraction, referring to a three-dimensional virtual world.
The alliance includes Hyundai Motor, the three telecom companies SKT, KT, and LGU+, Naver Labs, and Kakao Entertainment. Additionally, broadcasters such as KBS, MBC, and SBS, as well as CJ E&M, Lotte World, and Bundang Seoul National University Hospital, are also on the list.
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