Here's the GSTRF news..up on impressive volume today
Globalstar Provides First Commercial Phone Calls Between North and South Korea
13:53
in Nearly 50 Years
Business Editors & High Tech Writers
NEW YORK--(BUSINESS WIRE)--June 22, 2000--
South Korean Delegation Uses Mobile Satellite
Telephones at Historic Korean Summit
Globalstar (NASDAQ: GSTRF), the global mobile satellite telephone
service, reached a new milestone last week when South Korean officials
used the company's satellite phones during the recent summit meeting
in Pyongyang, North Korea, making the first commercial telephone calls
directly between North and South Korea in nearly 50 years.
Equipped with 11 Globalstar Qualcomm phones, members of the staff
accompanying South Korean president Kim Dae Jung were able to
communicate with each other and with their counterparts in Seoul,
South Korea, throughout the summit. During the entire visit, the
Globalstar phones performed well, transmitting clear voice signals via
the system's satellite constellation and the Globalstar gateway
located in Yeoju, South Korea.
"The Korean summit was a historic breakthrough in communication
between these two countries, and we are very proud to have been a part
of this important event," said Tony Navarra, president of Globalstar.
"As discussions and visits continue between North and South Korea,
Globalstar will be invaluable to future visitors to the North,
including government officials, businesspeople, and even tourists."
<27> To commemorate the successful outcome of this event, DACOM, the
To commemorate the successful outcome of this event, DACOM, the
Globalstar service provider in South Korea, is offering special
promotional packages until July 21, including 100 free minutes of
domestic calls and other discounts. DACOM markets Globalstar services
to a range of business and individual users, with particular emphasis
on the maritime sector which currently has an exceptional need for
wireless communications following recent termination of analog radio
services previously used by South Korean sea-going vessels.
Globalstar, led by founding partner Loral Space & Communications,
is a partnership of the world's leading telecommunications service
providers and equipment manufacturers, including co-founder Qualcomm
Incorporated, Alenia, China Telecom (HK), DACOM, DaimlerChrysler
Aerospace, Elsacom (a Finmeccanica Company), Hyundai, TE.SA.M (a
France Telecom/Alcatel company), Space Systems/Loral, and Vodafone
AirTouch. For more information, visit Globalstar's web site at
www.globalstar.com.
Loral Space & Communications (NYSE:LOR) is the managing partner
and, at 40 percent, is the largest equity owner of Globalstar. Loral
is a high technology company that concentrates primarily on satellite
manufacturing and satellite-based services, including broadcast
transponder leasing and value-added services, domestic and
international corporate data networks, global wireless telephony,
<49>broadband data transmission and content services, Internet services,
broadband data transmission and content services, Internet services,
and international direct-to-home satellite services. For more
information, visit Loral's web site at www.loral.com.
DACOM was founded in 1982 with the intention of moving South Korea
into the Information Age. Now a leading South Korean
telecommunications company, this multifaceted telecommunications
service company has helped pioneer South Korea's data
telecommunications industry during the last two decades.
DACOM is a top provider of Korean Internet and other on-line
services, as well as wireline phone services, domestic and
international long distance, data, and satellite telecommunications
services. DACOM's on-line service, the first of its kind in the
nation, currently serves over two million subscribers. DACOM is the
exclusive provider of Globalstar services in South Korea. For more
information, visit the DACOM web site at www.dacom.co.kr.
Picked up a few VLNC at the close, as well as adding to PUMA..out SOFO and CTXS |
