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KT (KT) hosted a CEO day to announce its mid-term business strategies, outlook and dividend policy. It laid out plans for sustainable growth, and among these, a couple of items drew our attention: 1) the turning point for the mobile business, and 2) the dividend policy.
KT expects the mobile business led by 5G to turn around in 2021, three years after the launch of the 5G service. It said it can achieve this goal through effective capex and limited competition. The 2021 target is also in line with our forecast,