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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (5343)	6/30/2000 8:54:39 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

Someone on Raging Bull posted this link that discusses Softbank's relationship with Korean High Speed Internet Service Provider Hanaro Telecom. What is interesting is that part of the reason for the tie up is to help Softbank prepare for their high speed internet service in Japan. This will be a vital part of Softbank's long term profitability in the Japanese market. It appears that Softbank is trying to cover all the bases. I'm still hopeful that the Speednet Project can become viable in the long run, but one way or another, Softbank will eventually be in the broadband Internet business: ASIA INTERNET NEWS more asia internet news Hanaro Telecom Ties Up With Softbank Networks By Michael Kim Korea Correspondent, asia.internet.com [June 29, 2000--SEOUL] Hanaro Telecom, the Korean high-speed Internet service provider, announced Wednesday that it has concluded a memorandum of understanding with Softbank Networks, a subsidiary of Japan's Softbank, for technology sharing and joint business operations. Under the agreement, Hanaro will provide Softbank Networks with its technology and know-how related to high-speed communications networks, including establishment, management, operation and maintenance. It will help Softbank Networks to prepare for its broadband Internet access service business in Japan, according to Hanaro officials. Cho Dong-Sung, Hanaro's executive director for Internet business, said that the strategic tie-up with Softbank Networks would help his company to promote Internet and Internet data center businesses by introducing core technology and knowledge from the Japanese Internet conglomerate. Softbank Networks, which was established last February, is to develop and integrate Internet-related broadband infrastructure for the Japanese and global markets. Its businesses include Internet service provision, international sub-sea cable operations, and data center operations. Using the strategic tie-up agreement for momentum, Hanaro Telecom and Softbank Networks will continue to expand their cooperation in order to maximize their mutual interest in both the Korean and Japanese markets, Cho said.