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Telecom
Outlook 2003
December
6, 2002
KAIT signs
memorandum of understanding with Xinhua Financial Network
HONGKONG
-- Korea association of information and telecommunication
(KAIT), a subsidiary of the ministry of information
and communication (MIC), and Xinhua financial network
(XFN), the premier China financial media company, have
signed a memorandum of understanding (MOU). Both the
companies pointed out that the main reason for the agreement
was to facilitate better cooperation between IT and
telecom firms in exchanging valuable market information,
and exploring new business opportunities.
KAIT
is a leading trade body representing the information
technology sector in Korea, while XFN is a subsidiary
of Xinhua news agency and provides information on China's
financial market. The signing of the MOU will enable
the members of the association to capitalise XFN's unique
access to China's vast financial market.
"The
partnership is aimed at facilitating cooperation between
Korea and Hong Kong firms with an objective of creating
new opportunities for the China market," said Mr.
Jae LIE, chief operating officer,XFN.
"The
telecom companies in China also stand to benefit from
Korea's unparalleled expertise in providing the next-generation
wireless Internet and telecommunication services, KAIT
and XFN would like to play an important role in this
bridging process." Mr. Lie continued.
Korea
is the world's most wired country, with over 10 million
high-speed connections. Under an ambitious plan unveiled
earlier this month it expects most of its households
to be linked with broadband by 2005. In the wireless
field, almost 40 per cent of mobile subscribers are
using CDMA-2000 services, higher than any market globally.
Meanwhile, Korea's consumer electronics firms, such
as LG electronics and Samsung electronics, continue
to gain market share in the worldwide handset and electronic
devices sectors.
Contact:
Xinhua Financial Network
Tel: 3102 3983
Email: joy.tsang@xfn.com
Web: www.xfn.com
PR
Contact:
Rebecca Hung
Tel: 852-3117-5037
Email: rebecca@newell.com
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