Seoul: KT Corp., South Korea's second-largest mobile carrier, reported a 16.2 percent increase in net income for the third quarter, driven by its expanding artificial intelligence (AI) ventures and a significant one-time gain. The company's net income reached 445.3 billion won (US$307.1 million) for the July-September period, up from 383.2 billion won the previous year, as disclosed in a regulatory filing.

According to Yonhap News Agency, KT's operating profit saw a 16 percent year-on-year increase to 538.2 billion won, up from 464.1 billion won, with sales climbing 7.1 percent to 7.12 trillion won. The earnings surpassed market predictions, where analysts had estimated a net profit of 354.7 billion won, based on a survey by Yonhap Infomax, the financial data division of Yonhap News Agency.

KT attributed its robust quarterly performance to the sustained expansion of its AI-related cloud and data center operations, along with real estate profits from a development project in northern Seoul. The company's primary wireless service sales grew by 4.7 percent compared to a year ago, while its fixed-line business sales increased by 1.5 percent over the same period.

In response to recent cybersecurity challenges, KT pledged to enhance its cybersecurity measures to prevent hacking incidents, referencing a recent malware infection case. A government-led investigation revealed that KT allegedly failed to disclose critical malware infections and did not report security breaches that resulted in a major hacking and data theft incident last year. The company also faced criticism for its delayed reaction to several unauthorized mobile payment incidents.