Wednesday, August 9, 2006

hanarotelecom Cites Gain in Broadband, Launches hanaTV

Korea's hanarotelecom announced a 21.2% gain in revenues to KRW 428.7 billion and a 22.4% increase in EBITDA to KRW 132.8 billion for the second quarter of 2006.

The company reported a broadband net addition of about 30,000 subscribers in Q2, a turnaround from net decrease in the previous quarter. The number of voice subscribers has continued to grow by around 20,000 net subscribers per month on average.

The company also noted the expansion of its 100 Mbps optical LAN coverage to 3.2 million households, which accounts for 60% of its apartment DSL coverage.

hanaro also highlighted the launch of "hanaTV", a commercial VOD-based TV-Portal service that provides various contents including movies, dramas, and educational programs through a broadband Internet connection and an IP Set-Top Box. The company said it is adding nearly 2,000 new subscribers each day and that it has attracted a total of about 30,000 subscribers since launching the service at the end of July. HanaTV has secured more than 16,000 hours of VOD content through agreements with more than 50 domestic/foreign content providers, including the Walt Disney Television, CJ Entertainment, SBS, BBC Worldwide, YTN, EBS, Daum, and National Geographic.

Hanaro has a target of attracting 250,000 subscribers by the end of 2006. The company will offer a full-blown Triple Play Service in the second half of the year, bundling a TV-Portal with broadband and voice services.

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