KT Corp., South Korea’s biggest fixed-line operator, on Friday said that net profit fell 22 per cent to a four-year low last year on increased marketing costs, but predicted higher profit and record revenue for 2008.

Net profit fell to Won967.5bn in 2007 as KT spent heavily to promote new services such as an internet television service. Earnings in the October-December period tumbled 65 per cent to Won57.4bn from a year ago, falling for the fourth consecutive quarter.