South Korea's Dacom to invest US$370 million in Internet business this year

Seoul, Jan 25 (Asia Pulse) - Dacom (KSE: 15940) said Tuesday that it will invest 417 billion won (US$370 million) in Internet-related business and expects to increase revenues from online operations by 77 percent to 383 billion won.

It expects the number of paying subscribers of its online PC service Chollian to increase to three million and revenues to rise 41 per cent to 200 billion won this year. It hopes to rake in sales of 150 billion won from its high-speed networking Boranet service, up 161 percent from last year. Dacom recently started providing high-speed network services to households and has acquired over 300,

000 subscribers. It plans to strengthen activities of Korea Internet Data Centre that opened last month and set up 10 branches across the country by the end of the year. The company wants to double e-commerce revenues to 33 billion won. It will continue strengthening its Internet business so that its revenues take up 85 percent of the company's total sales of 5.3 trillion won from 2005.