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Technology Stocks : Korea Thrunet Co Ltd - (KOREA)
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To: Mohan Marette who wrote (342)2/16/2000 1:01:00 PM
From: Mohan Marette  Read Replies (1) of 406
 
Thrunet and Sungwon Construction Sign an Agreement on Forging a Strategic Partnership for Construction of Cyber Apartment Houses

NEW YORK and SEOUL, South Korea, Feb. 16 /PRNewswire/ -- Korea Thrunet Co., Ltd. (Nasdaq: KOREA - news) today announced that the Company and Sungwon Construction signed an agreement to establish a strategic partnership in building cyber apartment houses.

A strong ``cyber' wind is now blowing in the South Korean housing industry. Many of newly-built apartment houses vaunt of a high-speed information-communications network. Time seems to have already come around when new apartment houses, if not wired with Internet service system, cannot be put on sale in the housing market. The market prices of apartment houses are expected to depend on the level of both the information-communications facilities and Internet service system.

To keep pace with such a fast changing environment in the local housing construction industry, Sungwon Construction has recently signed an agreement with Korea Thrunet to establish a strategic partnership designed to promote mutual cooperation in building cyber apartment houses. Under the partnership, Korea Thrunet will install its broadband Internet network at all apartment houses built by Sungwon, aiming to make Sungwon's apartment houses differentiated from those built by other construction companies.

Broadband Internet is currently undergoing a rapid change, and the number of Internet users and owners of small and home-based businesses have sharply increased. Cyber apartments, hence, are inclined to gain popularity not only among freelancers and those working in small offices and home offices (SOHOs) but also among housewives and students. Broadband Internet environment changes so fast that people will be able to consult with doctors through image telephony at home. Furthermore, they will also be able to handle civil petitions via electronic administration.

biz.yahoo.com
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