Unicom JV with S. Korea passed
( 2003-11-24 09:41) (Shanghai Daily)
The Ministry of Information Industry approved a joint venture between China
United Telecommunications Corp and SK Telecom Co, South Korea's largest mobile
phone operator, Beijing Youth Daily said yesterday.
The joint venture, with a registered capital of US$6 million, will help China
Unicom to provide faster Internet access than current technology allows and more
contents for Unicom's subscribers of its code-division multiple access network,
or CDMA, the newspaper said.
The joint venture was actually agreed by the two firms in March, with China
Unicom retaining a 51 percent stake and SK Telecom holding the balance.
Foreign firms are not allowed to provide mobile telecom services until 2006,
under China's World Trade Organization commitment.
China Unicom is the country's second largest mobile phone firm and only CDMA
operator with 14.65 million users.
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