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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 177.78-2.2%Jan 9 9:30 AM EST
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To: foundation who wrote (7527)2/20/2001 7:41:54 AM
From: foundation  Read Replies (1) of 197155
 
Hyundai to Establish Telecom Subsidiary in North Korea
February 20, 2001 (SEOUL) -- Hyundai Electronics Industries Co., Ltd. is reportedly
poised to establish a telecom subsidiary in North Korea, which will operate wired and
wireless telecom and high-speed Internet services.

Hyundai announced plans on Feb. 15 to set up the telecom unit in September, which will
provide telecommunications services particularly in the Kaesung Industrial Park and
Mount Kumgang resort regions.

To commence the services in North Korea, Hyundai said it will form a consortium with
other Korean telecom companies, including Korea Telecom.

Hyundai is planning to secure a 37 percent equity from the consortium and hold the
managerial rights.

Hyundai said tourists will be able to use mobile phones in the Mount Kumgang region
after 2002.

(Maeil Business Newspaper, Korea)

nikkeibp.asiabiztech.com
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