[Featured Stock] Foreigners Scoop Up KT, Maintaining Market Cap of 9 Trillion Won and Hitting Another 52-Week High

[Asia Economy Reporter Lee Seon-ae] KT's stock price is showing unusual momentum. On the 24th, it surpassed a market capitalization of 9 trillion won for the first time in 7 months, recorded a 52-week high on the 25th, and broke the record again on the 28th.

As of 10 a.m. on that day, KT was trading at 30,450 won, up 1.29% from the previous trading day. Early in the session, it surged to 35,700 won, setting a new 52-week high. Market capitalization also exceeded 9.2 trillion won.

Foreign buying momentum is also noticeable. Foreign investors have been continuously net buying since the 10th.

The securities industry evaluates that KT CEO Koo Hyun-mo's strategy to transform KT into a 'Digital Platform Company (DIGICO)' has succeeded in boosting the stock price by delivering results in various areas such as business-to-business (B2B), artificial intelligence (AI), and digital transformation (DX). KT judged that growth was limited by relying solely on its existing telecommunications business and has been strengthening its capabilities focusing on AI, DX, media, and content markets since 2020.

The prevailing view is that new growth engines in the media and financial sectors can also be continuously expected. KT previously signed a strategic partnership with CJ ENM on the 21st to collaborate on content business, and CJ ENM made a 100 billion won equity investment in KT Studio Genie. KT Studio Genie's corporate value is estimated to be over 1 trillion won.

In the financial sector, it is expected to introduce new financial services through the MyData business. KT plans to officially enter the MyData business by adding 'personal credit information management business and ancillary tasks' to its business objectives at the regular shareholders' meeting to be held on the 31st.

Kim Hong-sik, a researcher at Hana Financial Investment, set a target price of 45,000 won for KT, stating, "Even considering further interest rate hikes, the dividend attractiveness is high, and considering recent cost trends, first-quarter earnings are expected to be favorable," and analyzed, "Expectations for strong performance and an increase in dividends per share will rise this year."