KT Corp., Korea's second-largest mobile carrier, is negotiating to buy a stake in the Korean credit card company BC Card Co.
BC Card has a 32% market share in Korea, with more than 52 million cards issued by 11 banks.
KT announced the plan Thursday, but did not say how much of the card company it is trying to buy.
KT may use its stake in BC Card to enter the mobile payments market, just as wireless rival SK Telecom Ltd. has done. In December, SK Telecom bought a 49% share in Hana Card Co. for $350 million. The two parties launched a mobile payment service in April.