BY IN-SOO NAM AND JUNG-AH LEE
SEOUL—KT Corp., South Korea's second-largest mobile carrier by revenue, said its board approved its plan to become the largest shareholder in the country's biggest credit-card company, BC Card, a move aimed at helping it expand into mobile-phone payments and banking.
KT is playing catch-up with its bigger rival SK Telecom Co., the country's largest mobile carrier by revenue, which last year acquired a 49% stake in Hana Financial Group Inc.'s credit-card unit, Hana Card, for 400 billion won ($360.2 million).
SK Telecom is rolling out a so-called mobile-phone credit card that will allow subscribers to pay for purchases with their ...
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