US technology firm Intel has announced plans to invest US$20m in a JV with Samsung Electronics, Kookmin Bank Investment (KBIC) and telco KT to deploy WiMax networks in South Korea.
Known as WiBro, the JV was set up in May with a share capital of W320bn…
US technology firm Intel has announced plans to invest US$20m in a JV with Samsung Electronics, Kookmin Bank Investment (KBIC) and telco KT to deploy WiMax networks in South Korea.
Known as WiBro, the JV was set up in May with a share capital of W320bn (US$280.9m).
Intel’s “funds will be used to accelerate deployment of leading-edge wireless broadband networks in South Korea,” said the company in the statement.
“By March 2011, KT is expected to be the first carrier in the world to provide nation-wide WiMAX coverage with its WIBRO service covering 82 cities in Korea, serving 85 percent of the Korean population,” it added.