UPDATE 1-Hanarotelecom sees 2007 profit, 2008 sales growth

(Adds more CEO comments, background, shares) SEOUL, Jan 16 (Reuters) - South Korean broadband provider hanarotelecom (033630.KQ) is likely to post a net profit in 2007 and sees further gains in revenue in 2008, its chief executive said on Wednesday.

"We expect to post more than 1.8 trillion won ($1.92 billion) in sales for 2007," Park Byung-moo said during a press conference. "We could have sales of 2 trillion won or more in 2008."

Park also said the company is likely to post a net profit for 2007 and could post a net profit "in the tens of billions of won, or even hundreds" in 2008.

Hanarotelecom posted net losses of 208.8 billion won in 2005 and 86 billion won in 2006.

In early December, top South Korean mobile operator SK Telecom (017670.KS) agreed to buy nearly 40 percent of hanarotelecom for 1.09 trillion won ($1.16 billion) from a consortium led by insurer American International Group (AIG.N) and private equity fund Newbridge Capital [NB.UL].

SK already held 4.7 percent of hanarotelecom before the deal was announced, which would make it the broadband operator's top investor with 43.6 percent.

SK Telecom's stake purchase is subject to government approval, but Park said he expected a change in the identity of the new top shareholder.

Park added hanarotelecom was ready to proceed to the conversion from on-demand Internet broadcasts to live broadcasts, recently allowed by law. He said a test service was to start soon but didn't elaborate.

The new law, passed at the end of 2007, allows telecom operators to offer Internet Protocol TV (IPTV), or real-time television programmes and interactive services such as e-commerce via broadband networks.

The decision cleared a major hurdle for companies such as hanarotelecom and dominant broadband operator KT Corp (030200.KS) that have long prepared to launch full IPTV services in 2008.

The technology is expected to create new revenue sources for telecom companies, which suffer stalling growth in the fixed-line and broadband markets. (Reporting by Marie-France Han; Editing by Sei Chong)