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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (7115)	2/8/2001 10:55:20 AM
From: Jeff Vayda	Respond to of 196584

Foreign Direct Investment in Korea Hits Record $3.4 Bln in Jan. (article below from Bloomberg.com) and Canada Establishes Formal Ties With Communist North Korea (from NYT) - Think North Korea might be lining up a future Nortel contract for CDMA infrastructure? It would fit nicely into the 'regional' expansion. CDMA installed to the south and build out pending to the north (China). The leaders of the three nations have had a busy travel schedule of late. They have been visiting each other and I get the impression that the lesson is clear - telco expansion is a good thing and foreign involvement is mandatory. It wont take the form of foreign ownership, but teaming will certainly be there. (As a Q holder, I like the interplay in the region with the South being the driver in CDMA and the cultural resistance to the Japanese GSM crowd) Might not be too long before the "Korean" numbers of new subscribers really takes off... Jeff Vayda Seoul, Feb. 7 (Bloomberg) -- Foreign direct investment in South Korea rose more than threefold in January to a monthly record, pushed up by the sale of a stake in SK Telecom Co., the country's largest mobile-phone operator. Foreign direct investment rose to $3.38 billion in January from $1.12 billion a year earlier, the Ministry of Commerce, Industry and Energy said. Korea attracted 240 individual investments, down from 306 in January 2000. SK Global, the trading arm of SK Group, and SK Corp., Korea's largest refiner, sold a combined 14.5 percent stake in SK Telecom worth about $3 billion by transferring shares to Signum IX, a Cayman Islands-based investment company. The sale of stake paves the way for SK Telecom to team up with a foreign partner. While Korea's economy is slowing, a government crackdown on almost $50 billion in bad corporate debt may draw investors to the country this year as companies are forced to sell part or all of their business to stay afloat. The government said it's aiming to attract $15 billion in overseas investment to Korea this year, compared with $15.7 billion last year. It expects economic growth to slow to about 5 percent this year from last year's 9 percent as exports and domestic spending weaken. Last month, the SK Telecom stake sale pushed investment in Korea's service industry to $3.3 billion, from $255 million a year earlier. Foreign investment in manufacturing, meanwhile, dropped 95 percent to $44 million. Investment by U.S. companies rose to $203 million in January from $66 million a year earlier, while investment from Japan fell 70 percent to $97 million.