PICCA pulls out of LG Consortium on 3G auction

date: June 16, 2001

The Promising Information and Communication Companies Association (PICCA), a group formed by IT-related businesses, announced on Friday that it would not join hands with LG Telecom in bids for the third and final 3G license in Korea.

The move is seen as a severe blow to LG Telecom because the group had reportedly hoped to participate into the LG-led 3G consortium.

"The reason we want to run the 3G business is not just for gaining a profit but for creating a market in which we sell our equipment and technology,'' said Suh Seung-mo, a vice-chairman at the PICCA.

Suh said the PICCA would not join the LG-led consortium unless LG Telecom allows the co-management of domestic partners.

He called on both Hanaro and LG to form a "grand'' consortium that would ensure co-management for all participants in line with their shareholdings.

"If our requests are not accepted, we will pull out of the 3G auction,'' he argued.

The PICCA is rapidly positioning itself as a key holder for the 3G consortium. With this decision from the PICCA, LG may face a longer-than- expected road toward its hoped for 3G license, analysts said.

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