KT Corp., a South Korean telecom giant, plans to invest nearly $10 billion in its digital platform sector by 2026 as it aims to focus on the industry for future growth.
KT said on Thursday it will spend 12 trillion won ($9.5 billion) on its digital service platform Digico including the artificial intelligence, robots, cloud, media, and content from this year out of its total investment of 27 trillion won during the period.
“We will show new business models and lead the country’s digital transformation through the aggressive future investment,” said KT CEO Ku Hyeon-mo.
The company aims to pour 2.6 trillion won into the media and content businesses to develop K-content and secure intellectual property while considering further investments in expanding its media value chain including planning, production, and distribution.
Apart from the five-year investment plan, it will spend some 6 trillion won to obtain content for its media services.
KT and its affiliates had the largest subscribers of the domestic pay-TV services in the second half of last year.
The company will develop AI semiconductors in order to help corporate customers, who have been relying on foreign services based on graphic processing units (GPU), borrow AI infrastructures developed with domestic technology when needed. It plans to expand its businesses into the AI platform and service.
This report’s information was first seen on The Korea Economic Daily; to read more, click this link.
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