LG TELECOM LIKELY TO BID FOR POWERCOMM TO REMAIN COMPETITIVE.

AsiaPulse News, April, 2002

SEOUL, April 8 Asia Pulse - LG Telecom is likely to make a bid for Powercomm in order to stay competitive as one of the country's three largest telecommunication firms along with SK Telecom and Korea Telecom, industry sources said Monday.

To buttress such predictions, Dacom President Park Un-suh said in a press briefing recently that "we are considering requests by foreign firms to jointly purchase equities in Powercomm and KT as we are improving business performances."

Industry sources say that any attempt by LG Telecom to acquire Powercomm through its subsidiary Dacom will help boost the government's plan for three big players in the country's wired and mobile Internet service industry: SK Telecom, Korea Telecom and a third group comprised of LG Telecom,...