Korea Hanaro Telecom-Led Grp To Submit 3G Bid End-Feb

date: 22nd February 2001

A consortium led by South Korea's Hanaro Telecom Inc. will submit its bid for a business license for the code division multiple access 2000 service by the Feb. 28 deadline.

"We will submit our business plan to the Ministry of Information and Communications during the period of Feb. 26 to Feb. 28," said the spokesman said.

The spokesman said a number of local and foreign telecommunication companies including Qualcomm Inc. of the U.S. have joined its consortium, but didn't elaborate further.

"We will officially reveal names of the companies on Feb. 28," he said.

He said the consortium will have an initial capital of KRW300 billion.

The ministry said it will select the winner in March, but no specific time has been finalized.

Hanaro Telecom, which was the sole bidder for a CDMA 2000 business license late last year, failed to win it.

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