South Korean phone company bets on K-pop
(AP) -- South Korea's largest fixed-line telephone company is trying to capitalize on the worldwide popularity of Korean pop music, or K-pop, to increase revenue from overseas.
KT Corp. plans to roll out a mobile application of its online music streaming service this year and promote its video joint venture as a platform for broadcasting live concerts of K-pop stars.
KT Chairman Lee Suk-chae said Thursday that telephone companies "will not just be a provider of dumb pipes."
The move by KT Corp. to use its iTunes-inspired music service and online broadcasting firm to attract overseas audiences, is aimed at getting more control over content on its network.
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