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2 Feb 2010Powercom

LG Powercom is the third largest broadband provider in South Korea with a market share of 11 per cent. The operator offers an array of telecommunication services including broadband, leased lines, cable and digital TV and VoIP. On 1 September 2005, LG Powercom launched its broadband services under the brand name “XPEED” with speeds up to 100 Mbps.

On 2 December 2007, LG Powercom announced plans to merge with LG Dacom, its parent company, and list its shares on the stock exchange. The merger was fueled by the Kepco’s desire to sell its 43.1 per cent stake in Powercom as well as by expected integration of KT with KTF, Hanaro Telecom and SK Telecom.

On 19 July 2009, Kepco announced its plans to sell its 38.8 per cent stake in LG Powercom. However, the divestment is not yet confirmed as the company is yet to release a public notice to this effect.

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Taken from: Operator Profiles: South Korea
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