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Korea Mobile Internet Bids to Become Country's 4th Mobile Network

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Note -- this news article is more than a year old.

South Korea based Korea Mobile Internet (KMI) has again said that it will attempt to secure a mobile network license in the country's forthcoming radio spectrum auction.

This would mark the company's fifth attempt to secure a license, after its previous four attempts were blocked by the regulator as the company lacked the necessary financial backing.

KMI now plans to secure starting capital of W853bn and raise another W2tn by attracting foreign investors and executing an IPO.

The regulator then plans to auction off 2.5Ghz spectrum for use as either LTE or Wibro technologies, with a considerably lower reserve price if used with Wibro services.

KMI has always to date been a Wibro loyalist although it's future plans are still unclear. However, if it were able to secure the funding to bid for the spectrum as an LTE operator, it might also be able to secure national roaming with one of the three incumbent networks.

That could presage the entry of a full fourth network into the market.


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Tags: kmi  Korea