Hyundai Electronics Industries Co Ltd, a division of the $3,200m manufacturing and automotive giant Hyundai Co Ltd, has signed a memorandum of understanding with Sunnyvale-based telecommunications company First Pacific Networks Inc: First Pacific will provide its Personal Xchange technology – which allows inexpensive, simultaneous transmission of voice, data and video over one wire – to Hyundai for evaluation and demonstration purposes; after mutual development of a sales and marketing plan, First Pacific will appoint Hyundai Electronics Industries as its sole distributor of Personal Xchange systems in the Republic of Korea – the memorandum also outlines prospects for a future licensing agreement in which Hyundai would manufacture and market the Personal Xchange system across the world.
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