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Press Release
Mongolia’s SkyTel inaugurates mobile service in Ulan Bator
1999.07.08Shareholders include SK Telecom and Taihan Electric Wire
SkyTel, the second mobile service provider of Mongolia and of which SK Telecom is a partial owner along with Taihan Electric Wire, announced the launch of new mobile service at a service inauguration ceremony held in Ulan Bator, the capital city of Mongolia, on July 8 1999. SK Telecom President Jung Nam Cho, Taihan Electric Wire President Che Jun Yu and the president of SkyTel Erdenebat attended the ceremony held at the SkyTel headquarters.
SK Telecom became the third largest shareholder of SkyTel by investing 1.25 million dollars in shares, or 25% of the total shares, in the form of analogue mobile equipment last April. The mobile equipment and facilities for SkyTel were installed by SK Telecom. The company had dispatched wireless network designing specialists and installation engineers to Ulan Bator who have worked day and night ever to make sure that they meet the inauguration date - Mongolia’s traditional Nadam Festival that begins mid July. The SK Telecom engineers transferred the analogue system operational technology to the local engineers, giving the country a rare chance to acquire an advanced mobile technology. SK Telecom’s investment in Mongolia is significant in that the company is tapping a new mobile market outside Korea when the domestic market reaches the point of saturation while bracing for a complete market opening. Greater significance can be found in the fact that SK Telecom is using its mobile technology and operational know-how in exploring new overseas markets, which means there is a bigger chance now that it will penetrate the mobile service markets in the less-developed areas such as China, South East Asia and South America.
The inauguration of a service based on the mobile technology and operational know-how of SK Telecom and Taihan Electric Wire’s intimate knowledge of the local market is expected to help improving Korea’s image and build stronger economic ties as the public interest in the Korea-Mongolia relationship increases after the Korean President Kim Dae Jung’s visit to Mongolia last May.
40% of SkyTel is owned by the local partners while Taihan Electric Wire owns 35% and SK Telecom holds 25% shares in the company. The company says it will expand the service coverage to include other local cities such as Erdenet and Darhan.
SK Telecom became the third largest shareholder of SkyTel by investing 1.25 million dollars in shares, or 25% of the total shares, in the form of analogue mobile equipment last April. The mobile equipment and facilities for SkyTel were installed by SK Telecom. The company had dispatched wireless network designing specialists and installation engineers to Ulan Bator who have worked day and night ever to make sure that they meet the inauguration date - Mongolia’s traditional Nadam Festival that begins mid July. The SK Telecom engineers transferred the analogue system operational technology to the local engineers, giving the country a rare chance to acquire an advanced mobile technology. SK Telecom’s investment in Mongolia is significant in that the company is tapping a new mobile market outside Korea when the domestic market reaches the point of saturation while bracing for a complete market opening. Greater significance can be found in the fact that SK Telecom is using its mobile technology and operational know-how in exploring new overseas markets, which means there is a bigger chance now that it will penetrate the mobile service markets in the less-developed areas such as China, South East Asia and South America.
The inauguration of a service based on the mobile technology and operational know-how of SK Telecom and Taihan Electric Wire’s intimate knowledge of the local market is expected to help improving Korea’s image and build stronger economic ties as the public interest in the Korea-Mongolia relationship increases after the Korean President Kim Dae Jung’s visit to Mongolia last May.
40% of SkyTel is owned by the local partners while Taihan Electric Wire owns 35% and SK Telecom holds 25% shares in the company. The company says it will expand the service coverage to include other local cities such as Erdenet and Darhan.