KT Corporation (NYSE:KT) Q2 2024 Results Conference Call November 7, 2024 8:00 PM ET

Company Participants

Young-Kyun Yoon - IRO
Min Jang - Chief Financial Officer

Conference Call Participants

Hoi Jae Kim - Daishin Securities
Joon-Sop Kim - KB Securities
Eun Jung Shin - DB Financial and Investment Securities

Operator

Good morning, and good evening. Thank you all for joining this conference call. And now, we will begin the conference of the Third Quarter of Fiscal Year 2024 Earnings Results by KT. We would like to have welcoming remarks from KT IRO, and then CFO will present earnings results and entertain your questions. This conference will start with a presentation followed by a Q&A session. [Operator Instructions]

Now, we would like to turn the conference over to KT IRO.

Young-Kyun Yoon

Good morning. I am Young-Kyun Yoon, IRO of KT. We will now begin the earnings presentation for the third quarter of 2024. This earnings call is being webcast live on the Company website. Slides are also available for you to follow while listening to this call.

Please note that today's presentation includes estimates of financial and operating performance based on K-IFRS that have not been reviewed by an outside auditor. Therefore, other than confirmed historical data, we cannot guarantee the accuracy and completeness of financial and business-related information and may change in the future.

Now Min Jang, CFO of KT will present the earnings for the third quarter of 2024.

Min Jang

Good morning. I am Min Jang, CFO of KT. The business direction that KT has set for the future is transformation into an AICT company. We plan to lay the foundation for sustainable growth by innovating our core businesses with AICT transformation and expanding customized offerings to customers as an AX partner in the B2B segment. To this end, we have been striving to achieve structural innovation in our skills, businesses and workforce this year.

On September 28, in order to strengthen our capacity as an AICT company, we aimed a strategic partnership with Microsoft. The two companies will be engaging in a full range of cooperation in the AI and cloud areas for the next five years, such as jointly developing the Korean AI cloud service. We will also be working together to preoccupy new markets in the AI IT sector by jointly establishing a company specializing in AX and jointly implementing talent fostering programs.

In addition, we are improving the business portfolio to achieve fundamental and sustainable growth. As these efforts lead to stronger profitability of the B2B business in earnest, the mid- long-term profitability improvement should become more evident.