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KT eyes W1.3tr annual sales in AI by 2025

June 21, 2023 - 15:25 By Jie Ye-eun
Song Jae-ho, a senior executive vice president of KT’s AI and DX convergence business division, speaks at a press event in Seoul, Wednesday. (KT Corp.)

South Korean telecommunications giant KT Corp. said Wednesday it will diversify its artificial intelligence-related business portfolio to post 1.3 trillion won ($1 billion) in annual sales in the burgeoning sector alone by 2025.

“KT has been newly focusing on three AI sectors -- robotics, health care and education,” said Song Jae-ho, a senior executive vice president at KT, during a press conference in Seoul.

“We believe that these three areas can help ease ongoing social issues and bring innovation. We look to become an AI service provider that can give a helping hand in the three sectors when users are most in need of support,” he added.

The telecom giant painted a rosy future for its overall AI business, saying it has already secured cumulative orders worth more than 800 billion won for its AI contact center and logistics services.

KT said it will expand the supply of AI robots for delivery services in various worksites based on its delivery system and robotics platform. It is planning to launch AI-integrated remote health care services centered on chronic diseases, as well as a platform for implementing future digital education.

The company said it also aims to make inroads into overseas markets with its advanced AI technology.

It will introduce an AI transportation platform to Singapore by teaming up with mobile carrier Singtel and a logistics firm there this month. KT Healthcare Vina, a Vietnamese-based health care firm, will be established to commercialize AI care services for cancer and chronic disease patients in the second half of this year.

KT also unveiled its five-year investment plan to strengthen its competitiveness in AI, spending about 7 trillion won in advancing hyperscale AI technology, cloud and internet data center infrastructure, as well as identifying new AI businesses through 2027.

"As the country's leading AI company, we'll apply our accumulated experience, capabilities, infrastructure and know-how to the AI ​​business to establish ourselves as a customer-oriented AI service provider," the senior executive vice president said.

"We will make an all-out effort to not only grow in the future, but also to raise the level of competitiveness of the entire AI industry in Korea."