1、Morningstar Equity Company Report|Report as of 11 Aug 2025 09:31,UTC|Reporting Currency:KRW|Trading Currency:USD|Exchange:NEW YORK STOCK EXCHANGE,INC.Page 1 of 24?KT Corp ADR KT QQQ 11 Aug 2025 09:26,UTCLast Price20.19 USD8 Aug 2025Fair Value Estimate22.00 USD11 Aug 2025 09:22,UTCPrice/FVE0.92Market

2、 Cap9.83 USD Bil11 Aug 2025Economic MoatTMNoneEquity Style Box1 Large ValueUncertaintyMediumCapital AllocationStandardESG Risk Rating Assessment1;4 Jun 2025 05:00,UTCDan BakerSenior Equity AnalystMorningstar+852 2973 ContentsAnalyst Note(11 Aug 2025)Business DescriptionBusiness Strategy&Outlook(11 A

3、ug 2025)Bulls Say/Bears Say(11 Aug 2025)Fair Value and Profit Drivers(11 Aug 2025)Economic Moat(11 Aug 2025)Risk and Uncertainty(15 May 2025)Financial Strength(11 Aug 2025)Capital Allocation(11 Aug 2025)FinancialsESG RiskRecent Analyst NotesResearch Methodology for Valuing CompaniesImportant Disclos

4、ureThe conduct of Morningstars analysts is governed by Code of Ethics/Code of Conduct Policy,Personal Security Trading Policy(or an equivalent of),and Investment Research Policy.For information regarding conflicts of interest,please visit:http:/ primary analyst covering this company does not own its

5、 stock.Reporting Currency:KRW|Trading Currency:USDCurrency amounts expressed with$are in U.S.dollars(USD)unless otherwise denoted.1The ESG Risk Rating Assessment is a representation of Sustainalytics ESG Risk Rating.KT Earnings:Mobile Benefiting From Competitor Woes;Fair Value Estimate Up 7%Analyst

6、Note Dan Baker,Senior Equity Analyst,11 Aug 2025Korea Telecoms second-quarter service revenue was up 13%while operating profit increased by 105%and net profit increased by 79%.The outsize profit growth was largely attributable to apartment sales revenue,with underlying telecom revenue up 4.9%and ope