Internet disrupted in SKorea after Taiwan quake

Seoul, Dec 27: Internet connections at some banks, companies and government offices in South Korea were disrupted today after an earthquake off Taiwan damaged undersea cables.

South Korea's top fixed-line and broadband service provider, KT Corp, said in a statement today that six of several submarine cables through which the company provides telephone and Internet services were not working after the quake.

Banks said foreign exchange trading had been affected.

''Trading of the Korean won has mostly halted due to the communication problem,'' a domestic bank dealer said.

The quake off Taiwan, measured by Taiwan's Central Weather Bureau at magnitude 6.7 and at magnitude 7.1 by the U S Geological Survey, struck off the island's southern coast at 1226 GMT on Tuesday.

Shares in KT fell fell 3.3 per cent to 47,450 won by 1756 hrs IST, compared with a 0.7 per cent fall in the wider market, as the deadline to buy shares to be entitled to 2006 dividends fell yesterday.

Telecoms operators have been offering fat dividends to offset investor concerns slow growth in the mature market.

Reuters

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