The Information Technology 100
The smallest of Korea's three mobile carriers is the beneficiary of a government policy to support smaller operators. A unit of LG Group, the country's second-largest conglomerate, LG Telecom increased its customers by 26% in 2004, when the government introduced number portability, which allows subscribers to keep their phone number when changing service providers.
LG, the weakest of the three local mobile players, is the only one still not upgraded to 3G networks. To make up for the disadvantage, it's forging alliances with banks and brokerage houses to offer mobile financial services. LG uses its partnership with banks to expand its retail presence: It sells phones and signs up new subscribers at 2,800 bank branches in addition to its 580 storefronts. Last year alone, it sold well over 1 million banking-ready handsets.
|Return on Equity||2.3%|
|CORPORATE WEB SITE|
All figures are for the most recent available 12 months.
* Latest available data for the 12-month period ended Dec. 31, Jan. 31, Feb. 29, Mar. 31, or Apr. 30. For companies that do not report quarterly, the most recent annual data were used.
Data provided by Standard & Poor's Compustat, BusinessWeek
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LG TeleCom Co. Ltd. provides mobile telecommunications products and services primarily in Korea. The company offers wireless Internet service, ez-I, which provides a range of content, email, character/melody downloads, games, stock trading/banking, shopping/reservations, traffic information/location-based service, and entertainment. Further, the company provides mobile telecommunication network technology, including network design, setup, optimization, and operation, as well as consulting for data services related to WAP-based wireless Internet service infrastructure setup, JAVA/JINOS-enabled handset solutions, and multimedia application technology. As of September 30, 2004, it had 6 million subscribers. LG TeleCom was founded in 1996 and is headquartered in Seoul.
No. of Employees
Yong Nam serves as Chief Executive Officer and Director of LG Telecom. He was Executive Vice President of LG Electronics Inc. and President of Multimedia Division, LG Electronics Inc. from December 1997 to October 1998. He was Executive Vice President of LG Group Chairman's Office from January 1997 to December 1997. He was Senior Managing Director of LG Group Chairman's Office in 1996. He was Managing Director of LG Group Chairman's Office from 1993 to 1995. Mr. Nam received a B.A in Economics from Seoul National University.