KT Q1 profit drops 30% on breach costs

KT Corp. said Tuesday its first-quarter operating profit fell nearly 30 percent from a year earlier, as the absence of one-off property gains booked last year and costs tied to a recent hacking incident weighed on earnings. The telecom carrier reported 482.7 billion won ($325 million) in operating profit on a consolidated basis for the January-March period, down 29.9 percent from a year ago, according to a regulatory filing. Revenue slipped 1 percent on-year to 6.78 trillion won, while net profi

By The Korea Herald