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March 19, 1996

SAMSUNG AND HYUNDAI JOIN FORCES FOR PCS LICENSE BID

By CBR Staff Writer

Samsung Electronics Co Ltd and Hyundai Industries Co Ltd, South Korea’s two largest groups, have agreed to co-operate in the Personal Communications Services business, forming a consortium to apply for a government license to provide the services, Samsung said. Samsung and Hyundai would each hold a 20% stake in the consortium, with a group of leading companies taking another 30% and a group of small and medium-sized firms the remaining 30%. If the plan goes ahead, the two plan to invite about 100 local companies to join the consortium and provide them with telecommunications technology. Three licenses are to be let by June.

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