LG Telecom May Re-enter South Korean 3G Battle

In an annual shareholders' meeting on Saturday, South Korea's LG Telecom said that the company would participate in bidding for a 3G license, regardless of standard used if the government relaxes the bidding conditions. "In light of current conditions surrounding the bid, it is difficult to generate a profit in the synchronous-mode telecommunications business," said LG Telecom president Nam Yong. He added that LG would be interested in bidding for the cdma2000 license, if the license fee is reduced to around US$170 million, the price suggested by Hanaro Telecom."

Posted to the site on 26th March 2001