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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 165.05

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To: foundation who wrote (15655)	10/10/2001 7:32:22 AM
From: foundation	Read Replies (2) of 196664

(Korean) Telecom Investments to Fall In 2002, Sector Leaders Say by Ha Ji-yun Octorber 09, 2001 Major telecommunications companies in Korea are tightening their belts as the prolonged world economic slowdown and retaliatory attacks against terrorists by the United States paint a doubtful picture for next year's economy. SK Telecom said it will cut next year's investments by half, from this year's approximately 1.8 trillion won ($1.3 billion). Korea's largest mobile carrier said most of its large investments would be wrapped up in 2001, citing uncertainty about 2002's economy. Hanaro Telecom said it will reduce next year's investments by 20 percent from this year's 720 billion won. The second-largest broadband provider said most of its telecom network is expected to be completed this year. Hanaro said it will fully exploit its existing network to secure high-speed Internet customers, rather than expanding investments. KT Freetel and LG TeleCom, the second and third largest mobile providers, said they will cut back investments considerably in 2002. Korea Telecom said it is trying to cut expenses by 20 percent, but will maintain investments for 2002 on a par with this year. Meanwhile, no company has applied for a new business license in telecommunications "backbone" - the physical infrastructure used by the industry. english.joins.com

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