Monday's internet blackout could cost KT $6 million

[Photo by Park Hyung-ki]

Monday’s major internet blackout due to a technical glitch may cost Korean telco KT Corp. 7 billion won ($6 million) for damage lasted for more than three hours, estimated KB Securities, citing the terms and conditions on KT high-speed internet. The 7.3 billion won compensation accounts for 2.5% of KT’s expected Q4 operating income of 291 billion won. The network outage, which lasted for 40 minutes from 11:20 a.m. on Monday disrupted store payment machines, internet access, and brokerage trading systems, is said to have been caused by a routing trouble.

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