SK Telecom CEO Expects Further Opening of Chinese Market

SK Telecom's CEO Kim Shin-Bae appeared on a special live broadcast hosted by China's CCTV in commemoration of China's fifth anniversary in its entry into the WTO. Through his speech, he revealed his expectations about the additional opening of China's telecom market, saying that it would lead to increased competitiveness of Chinese telecom operators due to investments and competition. He also added that SK Telecom would pursue globalization together with Korean and Chinese IT companies, playing the role of a bridge for cooperation of the telecom sectors of the two countries.

In his speech, Kim Shin-Bae remarked, "The additional opening of China's telecom service industry will promote technology and capital investments, resulting in intensified competition. This will drastically increase the competitiveness of Chinese telecom operators."

"SK Telecom will collaborate with Chinese and Korean IT companies to pursue globalization, to create a new cooperative model and serve as a bridge for cooperation between the telecommunication industries of the two countries," he said.

Also, in response to a question by a reporter about SK Telecom's differentiation strategy in a situation in which globally prominent telecom companies are expected to step up efforts for entry into China, he responded, "SK Telecom is world's best in terms of mobile telecom competence, and holds leadership in the convergence area. Together with its China partner, it will lead the global telecommunications market."

In June, SK Telecom established a strategic alliance with China Unicom, the number two mobile telecom operator in China, purchasing US$1 billion of convertible bonds issued by China Unicom. In August, it agreed on cooperation in TD-SCDMA technology, China's 3G mobile telecom technology standard, with China's National Development and Reform Commission, and has been taking specific action to prepare for entry into the Chinese telecom market, such as pursuing the deployment of TD-SCDMA test beds."

Posted to the site on 18th December 2006