“The media is the growth engine…” Securing 100 dramas within 2 years”

“The media is the most powerful growth engine of’Digico KT’,” said KT CEO Sue Su-mo, and emphasized that “The KT Group’s capabilities will be gathered in media content to change the global market.” It is at the press conference for’KT Group Media Strategy’ held at KT Square in Gwanghwamun, Seoul on the 23rd.

“When the acquisition of Hyundai HCN is complete, KT Group has 13 million media subscribers,” said Koo. “Now we will be able to make money from the content business.” To this end, KT has set a goal of securing 1,000 original intellectual property rights (IP) and 100 dramas by the end of 2023 through’KT Studio Genie’.

KT Studio Genie is a content company established in January this year. KT’s subsidiary StoryWiz uses webtoon and web novel IP to produce dramas, movies, and entertainment. It plans to distribute it through its affiliates, Skylife (Satellite TV), Skylife’s own channel, Sky TV, and Internet TV, Olleh TV. The plan is to distribute copyrights in succession through KTH, a content distributor, and Season, an online video platform (OTT) of KT.

It also opened up the possibility of cooperation with Netflix and Disney Plus. Yoon Yong-pil, co-representative of KT Studio Genie, said, “It is possible to produce content with their investments or to distribute the content created by Studio Genie to overseas markets.”

The reason that CEO Koo rolled up his arms in the media business was because he was so confident. The big data model possessed by this company is representative. Last year’s drama’Sleek Doctor’s Life’ gained more than expected popularity with an audience rating of 14.1%. A KT official said, “Before the airing, the big data model predicted a’box-box jackpot’ for the combination of’friendship + Jo Jung-seok + hospital’. ”He explained. This means that as it possesses reliable data and analysis capabilities, it is possible to produce content with high potential for box office success.

Koo’s’post-communication’ strategy is in place to develop the group’s media capabilities. “KT is transforming from’Telco’, a telecommunications company, to’Digico’, a digital platform company.” And among non-communications,’media’ was the first choice. As if to show his willingness to change, on this day, CEO Koo wore jeans, a no-tie, a beige jacket, and brown shoes.

In fact, KT Group’s wireline business sales last year fell 7.3% from the previous year to 1.465.5 billion won, but IPTV (1,723.2 billion won) grew 7.7%. CEO Koo said, “Media sales are 3 trillion won, and it is an important platform with an average annual growth rate of 15% over 10 years.”

Representative Koo is on the verge of the 1st anniversary (30 days) of inauguration. He joined the KT Economic Management Research Institute in 1987 and was elected Chief Executive Officer at the beginning of last year. He is the first CEO from inside to privatize by KT in 2002. After taking office as the CEO, he succeeded in acquiring K Bank’s rights offering through BC Card and Hyundai HCN, a cable TV company. KT Powertel, a telecommunications subsidiary, was sold.

CEO Koo is planning to continue expanding new businesses in the non-communication field. CEO Koo said, “Some of the new businesses, such as digital transformation (DX), artificial intelligence (AI), cloud, commerce, and robots, will be released in April and May.”

Kim Hong-sik, researcher at Hana Financial Investment, said, “KT’s strategy for de-communication is to develop new industries such as media and finance while reinforcing the existing telecommunications business.” did. However, he said, “There is a task to organize about 40 affiliates that have expanded through the octopus formula.”

Reporter Kim Kyung-jin [email protected]