SK SET UP JOINT VENTURE WITH CHINA UNICOM
AsiaInfo Services, November, 2003
AsiaInfo Services 11-25-2003 SK Set up Joint Venture with China Unicom BEIJING, Nov 25, 2003 (SinoCast via COMTEX) -- With approval of the Ministry of Information Industry(MII), the joint venture company set up by South Korea-based SK Telecom (SK) and China Unicom is under registration. The new company will focus on value-added wireless Internet business based on China Unicom's CDMA (code division multiple access) network.
The total investment of the new company is setat USD 6 million (USD 1 = CNY 8.277). According to the agreement, China Unicom will hold a dominant 51 per cent stake. Board Chairman of the joint venture company will come from China Unicom and the general manager from SK Telecom. SK confirms that, for the time being, they will not buck for...
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