Milestone: KT to halt investment in fixed-line network

As reported in The Korea Times, KT has publicly announced an historical milestone of sorts. It is ready to pull the plug on fixed-line telephony, which continues to be exposed as a decaying business model due to the rise in mobile and Internet communications. Company officials said the firm will no longer invest in its telephone network, while diverting spending to exploit the popularity of smartphones and other mobile Internet devices. The mainstream emergence of voice over Internet protocol services (VoIP), which allow carriers to provide cheaper voice rates than conventional fixed-line services, is also quickening the retirement of the latter.