The Korean Federation of small and medium businesses (Kbiz) has reportedly announced that it will apply to the government to create a new mobile operator.
According to a report yesterday in local JoongAng Daily newspaper, a Kbiz official said that the…
The Korean Federation of small and medium businesses (Kbiz) has reportedly announced that it will apply to the government to create a new mobile operator.
According to a report yesterday in local JoongAng Daily newspaper, a Kbiz official said that the federation was looking to enter the mobile industry because it represented a new growth engine for small and medium IT companies.
The official also reportedly said that the initial investment would be less than W100bn (US$94.6m).
The new mobile carrier would be looking to use WiBro, an alternative 4G technology to LTE.
The Kbiz official said that it was looking for Samsung Electronics to participate in the project. He also said that investments and technology from other conglomerates would be a great help.
According to the newspaper report, Kbiz has created a business plan for the move into mobile, which will see the creation of a consortium including Kbiz and 900 SMEs.
The three main competitors to the new operator would be SK Telecom, KT Corp and LG U+. They are looking to introduce LTE services over the next six months.
Kbiz was unable to reply to questions before the press deadline.
