The total number of broadband subscribers served by South Korea's Hanaro Telecom declined by 10,407 at the end of Q2 2003 to 2,963,514, compared to three months earlier. The company cited the discontinuation of promotional initiatives as the reason for the drop. Meanwhile, overall revenues increased 4.7% quarter-over-quarter to KRW 344.4 billion (US$289 million), while operating costs decreased slightly by 2.7% to KRW 326.4 billion (US$274 million). Some other highlights from Q2:
- the proportion of subscribers for broadband services such as VDSL, Pro, Mid and Lite were 3.62%, 16.92%, 3.77%, and 75.69%, respectively.
CAPEX increased by 99.4% quarter-over-quarter to KRW 139.6 billion from KRW 70.0 billion in Q1 due to a major buildout of VDSL.
Mr. Chang-Bun Yoon was named as the new CEO of Hanaro, following the resignation of its previous CEO in May. Yoon previously served as the President of the Korea Information Society Development Institute (KISDI), a leading think-tank and government research institute for policy development for the information technology sector in Korea.
Hanaro noted that aggressive broadband promotional campaigns in Korea, such as discounts and free trials, have been discontinued, in order "to promote healthy competition among the service providers, positively contributing to increased revenue generation."
