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Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

KT Q3 net sinks 63 pct on slumping sales, currency losses

By 윤민식

Published : Nov. 1, 2013 - 09:44

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KT Corp., South Korea's top fixed-line and No. 2 mobile operator, said Friday its third-quarter net profit plunged 63 percent from a year earlier due to a decline in sales and currency losses.

Net profit reached 136 billion won ($128 million) in the July-September period, compared with 369 billion won a year earlier, the Seoul-based company said in a regulatory filing.

Sales fell 7.3 percent on-year to reach 5.73 trillion won over the cited period, while operating income surged 23 percent to 307 billion won, it said.

The third-quarter earnings of the mobile operator were released before the stock market opened. (Yonhap News)

KT Q3 net sinks 63 pct on slumping sales, currency losses

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