VoIP Telecom Inc.
8/7/00 - VoIP Telecom, Inc. Signs Agreement to Introduce High-Speed Wireless Technology Solution Implementation Program in South Korea
> Business Editors/High Tech Writers
KIRKLAND, Wash.--(BUSINESS WIRE)--Aug. 7, 2000--VoIP Telecom, Inc.(OTCBB:VOPT)
In conjunction with its mandate as a data transport solutions provider, VoIP Telecom, Inc. (OTCBB:VOPT) today announced substantial progress in its strategy to deploy groundbreaking (patent pending) wireless technology.
An initial project, to be launched immediately in South Korea, is the first of three designated country locations where the Company has entitlement to grant nationwide site licenses. Implementing this 'last mile' solution beginning in South Korea is a significant opportunity through which VoIP Telecom intends to provide value-added features. These features can be expanded into a variety of other IP [Internet Protocol] telephony applications in areas where the Company is providing VoIP network operations.
VoIP Telecom is the holder of certain exclusive rights to market fast, reliable and inexpensive third generation ["3G"] high-speed wireless LAN- and WAN-based voice, data and multimedia systems to be supplied by GoldWeb Technologies, Inc. ("GOLDWEB" - a wholly owned subsidiary of Consolidated Gold Win Ventures, Inc.)(CDNX:CGW.) - see news releases dated July 28 and August 4, 2000. VoIP Telecom and GOLDWEB have signed an Agreement with a major Korean industrial organization - RIFA Industrial Co. Ltd. ("RIFA") - whereby all three companies jointly will cooperate to identify a wireless solution program for early implementation in and around Seoul, the capital of South Korea. Targeting a growing base in Seoul of some 1,500,000 current ADSL Internet subscribers, the companies expect to commence and complete pilot testing over the next 60 days. On completion of the testing, a program to deploy wireless Internet services nationwide would then be initiated for 2001.
Under the Agreement, VoIP Telecom and GOLDWEB initially are responsible for installing a beta site to verify 3G data transport delivery system viability, and thereafter the companies will assemble and install a turnkey operation, including installation, training and continuous after market support. RIFA is to be responsible for operating and managing the project throughout South Korea, including securing all necessary permits to meet applicable regulatory certification requirements, as well as sales and marketing to existing and new subscriber bases.
ADSL (Asymmetric Digital Subscriber Line) is a service that uses existing, 2-wire, copper telephone wiring to offer a faster Internet connection than a standard dial-up connection for the delivery of high speed data services to business and homes. The wireless Internet solution greatly reduces costs by bypassing the utilities to provide direct access at a much higher speed than ADSL. While in line with the costs for ADSL, cable modem and T-1 access, wireless Internet delivers greater bandwidth and the convenience of wireless operation.
About RIFA Industrial Co. Ltd.
RIFA Industrial Co. Ltd. (www.rifa.co.kr) is a prominent, 50-year old industrial corporation that occupies a very significant role in Korean textiles and enjoys global renown as a dyestuffs specialist. The Company has a reputation as the largest, most dominant domestic producer, and in 1994 was the first in its sector to become listed on the Korean Stock Exchange. RIFA recently established a "high technology" division, with the intention of embarking upon an aggressive expansion program focused on opportunities for involvement in the advancement of Internet applications in the South Korean marketplace. The technology division is headed by Mr. Hee-Dong Yoo, Vice Chairman who was a former Vice President at Samsung and has extensive international experience.
About VoIP Telecom, Inc.
VoIP Telecom Inc. is a next generation digital telecommunications company focused on the deployment of worldwide digital, voice as well as data communications via fiber optic, Internet circuit (VoIP), satellite and public switched telephone networks. The company's strategic vision is to become a leader in converging conductivity solutions by building a major consortium of the highest quality VoIP entities in order to obtain a significant market share of international long distance traffic in North America, Europe, Asia, Russia and the Middle East.
VoIP Telecom's entry into the fast-paced, highly profitable global telecommunications marketplace is concentrated on VoIP via an acquisitions program, which includes International Communications & Equipment, Inc. (ICE - 100%), Access Network Limited (ACCESS - 100%) and NEX Telecom Co. Ltd. (NEX - 49%).
ICE is a high growth oriented telecommunications company, founded in 1996 in Kirkland, Washington, with an aggressive business plan centered on a joint venture agreement to provide VoIP long distance carrier services for 89 regional carriers in Russia. ICE also has commenced negotiations with exchange carriers in Germany to transport traffic to Russia and has identified initial contracts for 3 million minutes per month outbound. Subject to equipment installation, over the next three years ICE estimates achieving at least 500 million voice minutes per year in Russia alone. In addition, ICE has projects pending and alliances forged in Thailand, Malaysia, Ukraine, Poland, Malta, Lebanon, Turkey, Cyprus, Syria, Jordan, Libya, Iran, Iraq, Egypt, Italy, Greece, France, Norway, Azerbaijan and Georgia.
ACCESS is a Singaporean enterprise formed in 1999 to take advantage of VoIP and ancillary telecom opportunities in Asia, one of the most explosive digitized telecommunications arenas in the world. The company's business plan calls for a network to be established to handle over 400 million voice minutes annually with expected gross revenues projected to be in excess of $30 million.
Headquartered in Seoul, South Korea, NEX was formed in 1998 to provide a full complement of Internet voice and data services. It is the first international VoIP telecommunications company bearing its own network and service supporting facilities in Korea. The company currently supplies voice, data, facsimile and Internet-related VoIP telephone services over its network, as well as more enhanced Internet multimedia services via a wide range of transmission media, including its own leased fiber optic cable, satellite and wireless networks.
In January 1999 NEX established the Pacific Asia Telecom Group (PATG), and is acting as a PATG hub. PATG networks have been connected to NEX partners in the United States: Bitro Communications, www.bitro.com; Cosmobridge, www.cosmobridge.com , and iBasis; Japan (Telematrix); China (China Unicom); Hong Kong (oriental Telecom Services); The Philippines (Mainstream); Malaysia (Next Telecom); Australia (Nexcell) and New Zealand (Cosmobridge New Zealand).
About GoldWeb Technologies, Inc.
GoldWeb Technologies Inc. markets and commercially develops the marketplace by enabling Internet Service Providers, virtual private networks, nationwide networks and international super-carriers with "last mile" wireless technology. Such technology provides end user subscribers with high quality wireless transmission of high speed data, voice over IP, video on demand, and warp speed Internet access that is safe, secure and inexpensive.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1996. Forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at VoIP Telecom's stage of development. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. |
