SK Telecom, Korea's largest mobile communications provider, has selected LG Electronics (LGE) and Nortel to provide Advanced HSDPA and UMTS technology to support new high-speed wireless broadband services throughout southern Korea. Financial terms were not disclosed.
SK Telecom's commercial launch of UMTS services in Pusan, Korea's second largest city, and the southern provinces of Gyeongsang-do, Jeolla-do and Jeju Island is planned for November 2005, with commercial launch of HSDPA following in early 2006.
http://www.nortel.com
http://www.lge.com
- In August 2005, LG Electronics and Nortel signed a definitive agreement to form a joint venture that will offer telecom and networking solutions in the wireline, optical, wireless and enterprise areas for South Korean and global customers. Nortel will own 50 percent plus one share in the joint venture, in exchange for which Nortel will contribute its South Korean distribution and services business and pay US$145 million and other non-monetary consideration. Separately, LG Electronics may be entitled to payments over a two-year period based on achievement by the joint venture of certain business goals.
