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SKT chief executive reveals USD2.2 billion investment pot

9 Apr 2009

South Korea’s largest cellco by subscribers, SK Telecom (SKT), has funds of at least USD2.2 billion which it can invest in new business over the next five years, according to Reuters. Citing comments from the operator’s chief executive, Jung Man-won, the report adds that the company will continue to look for opportunities in the United States and China specifically. Domestically SKT plans to utilise available funds to develop new technology and services in a bid to maintain its lead in the wireless sector, although it was noted that the operator will not aggressively look to increase its market share. According to TeleGeography’s GlobalComms database, SKT had just over 23 million wireless subscribers at end-December 2008, representing a 50.5% market share.

South Korea, SK Telecom (SKT)

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