Unicom Sets Up CDMA 1X Joint Venture

China Unicom has signed a joint venture contract with South Korea's SK Telecom on "The establishment of CDMA Wireless Internet Value-added Services". The signing of the contract marks a significant move for the two parties on the development of CDMA wireless Internet value-added services.

According to the contract, the registered capital of the joint venture is US$6 million, of which, China Unicom has a share of 51% while SK Telecom has 49%. As agreed by both parties, the chairman of the joint venture will be appointed from Unicom Group, and SK Telecom will recommend a general manager.

The joint venture will concentrate of developing value-added services for Unicom's CDMA 1X network."

Posted to the site on 24th March 2003