News Roundup
2008/07/14 06:51SK Telecom's wireless joint venture in America took a turn at the end of June with Virgin Mobile purchasing Helio. SK Telecom will hold a minority stake in Virgin Mobile USA and make an additional $25 million dollar capital injection into the company.
SK Telecom also recently signed a deal with Sega to expand their mobile game publishing business:
The Korean company said it has recently signed a deal with Sega Publishing Korea, the local unit of the Japanese game maker, to release “Sangokushi Taisen Online” and “Let’s Make a Pro Baseball Team Online.” Financial terms weren’t disclosed.
SK Telecom said it is in the process of localizing the games and plans to begin service near the end of the year after creating a new game portal to be run by its gaming subsidiary.
Korea Telecom solidified their partnership with NTT Corp by agreeing to look for new joint and investing in startups. The purpose of the the partnership will be:
1) To establish a collaborative network among KT, NTT, venture capitals and start-up companies;
2) To introduce new business models and technologies;
3) To develop and promote specific services through equity participation in cooperation with start-up companies as the case may be.
They held an event in Silicon Valley to announce the new partnership and to meet with local startups and venture capitalists.
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