South Korea’s KT Corp will work with telecommunications gear makers including Samsung and LG-Ericsson for a high-speed LTE network, investment for which could start in 2011, a senior executive told

South Korea’s KT Corp will work with telecommunications gear makers including Samsung and LG-Ericsson for a high-speed LTE network, investment for which could start in 2011, a senior executive told Reuters.

KT, the country’s No.2 mobile carrier, also plans to set up a property asset management company in July to turn its real estate assets, with a book value of $5.7 billion, into a new source of revenue, Pyo Hyun-myung, president of mobile business group, said.

“Investment for the LTE network can begin in July next year,”  Pyo told Reuters, adding that Samsung Electronics and LG-Ericsson a joint venture between LG Electronics and Sweden’s Ericsson were among gear markers it would work with.

KT Corp. has earlier reported more than doubl profit after a merger with its mobile-phone unit KT Freetel Co. KT’s share of South Korea’s mobile-phone market was 31.4 percent at the end of March, compared with SK Telecom Co.’s 50.7 percent and LG Telecom Ltd.’s 17.9 percent, according to the latest government data.