BEIJING, Dec 28, 2009 (SinoCast Daily Business Beat via COMTEX) -- South Korea-based KT Corporation said on December 28, 2009 that it planned to acquire a 25% stake in Omnitel China.
Via the acquisition, KT aims to support its subsidiaries and other South Korean medium- and small-sized companies to make inroads into the Chinese market and seek opportunities in the country, explained an executive from KT.
Omnitel China, which was set up by South Korea's Omnitel Inc. as a mobile phone content supplier, offers services to 12 million mobile phone users via telecom carriers in the country. In order to increase its revenues and profits, the unit boosts researches on new value-added services like mobile phone games. Jiao Zhimin, a female Chinese table tennis player, started to act as chief executive officer of Omnitel China in 2004.
KT, formerly Korea Telecom, is a prominent South Korean Integrated wired/wireless telecommunications service provider. It merged with KTF, a mobile telecommunications company in mid 2009.
