Hanaro Posts Revenues of KRW 493 Billion for the First Quarter of 2008

- Revenues rose by 9.3% year-on-year and 0.9% quarter-on-quarter.

SEOUL, South Korea, April 28 /PRNewswire/ -- hanarotelecom incorporated
(KOSDAQ: 033630) ("Hanaro" or the "Company"), Korea's leading integrated
telecommunications company, announced that the Company posted revenues of KRW
493 billion for the first quarter of 2008, a 9.3% increase year-on-year and a
0.9% increase quarter-on-quarter.
The Company stated that revenues continued to increase on the back of
subscriber growth in voice and hanaTV as well as solid growth of corporate
businesses including leased line and IDC.
Hanaro posted operating income of KRW 10.0 billion, net loss of KRW 6.7
billion and EBITDA of KRW 129.3 billion for the first quarter of 2008.
(Refer to Table 1 - 1Q 2008 Financial Highlights)
The Company explained that operating income decreased due to a rise in
one-time expenses such as the accrual of interconnection fee estimates and the
bonus payment to compensate for the non-paid salary increase for 2007.
As for hanaTV, Hanaro posted quarterly revenue of KRW 21.3 billion and
recently reached 900,000 subscribers on a cumulative basis, strengthening the
position as a leading player in IPTV. Furthermore, the Company acquired 1.83
million subscribers of 100Mbps broadband services as of the end of March 2008,
accounting for over 50% of its total subscribers.
Hanaro's CFO Young-Chul Kim said, "We will place top priority on customer
value innovation this year. In addition, we will improve our corporate value
by enhancing fundamental competitiveness through the improvement of network
and marketing infrastructure while creating synergies with the SK group,
including the launch of bundled products of wireline and wireless services."
Contacts: hanarotelecom incorporated
Investor Relations
822-6266-4524 / 4473
ir@hanaro.com
- or -
Taylor Rafferty, New York
Reema Parikh
1-212-889-4350
Taylor Rafferty, London
Faisal Kanth
44-20-7614-2900
hanaro@taylor-rafferty.com

Table 1 - 1Q 2008 Financial Highlights
(Unit: KRW billion)

Change Change
1Q 2008 1Q 2007 (y-y) 4Q 2007 (q-q)

Revenues 493.0 451.1 9.3% 488.8 0.9%
Operating Profit 10.0 12.4 -19.0% 24.4 -59.0%
Net Income -6.7 -9.6 Loss 7.3 Turned
continued negative
EBITDA 129.3 140.1 -7.7% 148.1 -12.6%

SOURCE hanarotelecom incorporated

hanarotelecom incorporated, Investor Relations, +1-822-6266-4524 - 4473,
ir@hanaro.com; or Reema Parikh, Taylor Rafferty, New York, +1-212-889-4350; or
Faisal Kanth, Taylor Rafferty, London, 44-20-7614-2900,
hanaro@taylor-rafferty.com