hanarotelecom passes 500,000 subscribers for its hanaTV service in Q2

August 9, 2007 – Korean telco hanarotelecom has announced that it surpassed 500,000 subscribers for its hanaTV IPTV service in the second quarter of 2007.

Revenue from its hanaTV service reached KRW 7.7bn between May and June 2007, more than double the amount reported for the previous quarter.  Pay-per-view revenue for the service reached KRW 1bn in the second quarter of 2007, compared to KRW 200mn for the previous quarter, making the service rapidly more profitable, the company reported.

The company’s total revenue for the period reached KRW 461.7bn, up 2.4% from the previous quarter and 7.7% year-on-year.  Operating income reached KRW 19.4bn in the second quarter of the previous year, up 159.2% from the same period of the previous year.  The company also reported 32,000 new broadband subscribers for the quarter, and more than 1.25mn subscribers for its 100Mbps service.

“We were able to achieve the record high quarterly revenues and a positive net income in the 2nd quarter of this year, owing to a stable growth in our core businesses and a remarkable revenue increase in our new growth engines such as hanaTV and corporate businesses,” commented CFO Janice Lee.