Sunday, April 06, 2008

[ News, Economy / Industry, February 17 2008] SK Telecom to tap China's telematics market

Korea’s top mobile phone carrier SK Telecom Co. said Sunday (Feb. 17) it has bought a Chinese Global Positioning System (GPS) service provider in order to tap the Chinese telematics market.

SK Telecom said it bought a controlling 65.5-percent stake in Shenzhen E-eye High Tech Co. for 13.9 billion won ($14.7 million), putting it under its holding company in China, SK Telecom China Holding Co.

"The purchase has opened the way for SK telecom to advance into the Chinese market with its telematics technology and know-how," said Lee Suk-hwan, president of SK Telecom China Holding.

No comments: