Tuesday, December 11, 2007

[The Chosun Ilbo, November 29 2007] A Chapter Ends: KT to Close Telegraph Service

KT has decided to shut down its telegraph service, Korea's first electronic communications system. The company said Wednesday that it will spin off its telegraph business division to create a new company due to noticeable decrease in demand.

Korea's largest fixed-line and Internet service provider said that the division will likely post sales of W13.3 billion (US$1=W931) for the year, a more than 30 percent fall from W19.1 billion in 2004. Sales are expected to slow to 3.72 million telegrams for 2007, down from 5.37 million in 2004.

"With all the sophisticated technologies like email and text messaging available, fewer people are sending telegrams," a KT staffer said. "It was once an essential service, but now, despite our efforts, it is impossible to turn the business around."

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