Hanaro Telecom passes 900,000 IPTV subscribers

April 29, 2008 – Korean telco Hanaro Telecom has revealed that it passed 900,000 subscribers to its “hanaTV” IPTV service in the first quarter of this year, and reached revenues of KRW 21.3bn (US$ 21mn) for the service during the period.

The company also reached 1.83mn subscribers for its 100 Mbps broadband services by the end of last March, accounting for over 50% of its total subscribers.

“We will place top priority on customer value innovation this year,” said Young-Chul Kim, CFO of Hanaro Telecom.  “In addition, we will improve our corporate value by enhancing fundamental competitiveness through the improvement of network and marketing infrastructure while creating synergies with the SK group, including the launch of bundled products of wireline and wireless services.”

Hanaro Telecom’s total revenues for the first three months of this year reached KRW 493bn, up 9.3% year-on-year.  The telco posted a net loss of KRW 6.7bn for the same period however, attributed in part to one-time expenses.