LG talks to three companies in 3G bid

date: May 21, 2001

A newspaper claimed LG Telecom is in dialogues with three foreign operators to seek partnership deals in bidding for Korea's third and final 3G licenses base on the cdma2000 standard.

The paper said the three companies are KDDI, Verizon and TIW, but no details of the discussion was given out to the press.

By forming a consortium, LG Telecom hopes it will have larger financial funds in bidding for the final 3G license in Korea against Hanaro Telecom. On December, LG lost out to SK Telecom and Korea Telecom in the first two 3G licenses based on WCDMA standard.

The government is hoping to offer the license in October and is considering lower the license fee to $400million.

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