DoCoMo and KT Freetel to Set up Mobile/IT Venture Fund in Korea
TOKYO, SEOUL, October 10, 2007 --- NTT DoCoMo, Inc. and KT Freetel Co., Ltd. today announced that in November they will set up a venture fund in Korea to invest in promising mobile and IT firms. The fund will be managed by KTBnetwork Co., Ltd.
DoCoMo and KT Freetel will each invest 13.5 billion won (1.7 billion yen), in the fund, named as KTF-NTT DoCoMo Mobile Investment Limited Partnership, each taking a 45 percent stake. KTBnetwork will invest 3 billion won (378 million yen) for the remaining 10 percent stake.
Through the fund, NTT DoCoMo and KTF expect to identify promising companies for tie-ups in technology and other opportunities in the mobile and IT sectors.
Joint investment undertakings are one of the goals of the business and capital partnership agreement concluded between DoCoMo and KTF on December 15, 2005.
The fund will operate for six years, with an option for a two-year extension.
About NTT DoCoMo
NTT DoCoMo is the world's leading mobile communications company. DoCoMo serves about 53 million customers, including 40 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode™, the world's most popular mobile e-mail/Internet service, used by more than 47 million people. With the addition of credit-card and other e-wallet functions, DoCoMo mobile phones have become highly versatile tools for daily life. NTT DoCoMo is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
i-mode and FOMA are trademarks or registered trademarks of NTT DoCoMo, Inc. in Japan and other countries.
NTT DoCoMo's FOMA service is only available to subscribers in Japan.
About KT Freetel
KT Freetel has been at the forefront of developing the information and communications industry in Korea since its establishment in December 1997. Serving more than 13 million customers, KTF, a second largest operator in Korea, is dedicated to exploring open-ended possibilities and opportunities for mobile communications, digital convergence and wireless data services. As a global leader of wireless data services, KTF launched EV-DO service in 2002, making it the earliest mover to next generation network. The company offers a variety of multi-media services including MMS, telematics, real time TV broadcasting and video on demand. And as one of the two W-CDMA licensee in Korea, KTF launched HSDPA network in 2006, which will provide a momentum for KTF to enhance its mobile service.
KTF is listed on the KOSPI (32390). For more information, visit www.ktf.com
DoCoMo and KT Freetel will each invest 13.5 billion won (1.7 billion yen), in the fund, named as KTF-NTT DoCoMo Mobile Investment Limited Partnership, each taking a 45 percent stake. KTBnetwork will invest 3 billion won (378 million yen) for the remaining 10 percent stake.
Through the fund, NTT DoCoMo and KTF expect to identify promising companies for tie-ups in technology and other opportunities in the mobile and IT sectors.
Joint investment undertakings are one of the goals of the business and capital partnership agreement concluded between DoCoMo and KTF on December 15, 2005.
The fund will operate for six years, with an option for a two-year extension.
About NTT DoCoMo
NTT DoCoMo is the world's leading mobile communications company. DoCoMo serves about 53 million customers, including 40 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode™, the world's most popular mobile e-mail/Internet service, used by more than 47 million people. With the addition of credit-card and other e-wallet functions, DoCoMo mobile phones have become highly versatile tools for daily life. NTT DoCoMo is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
i-mode and FOMA are trademarks or registered trademarks of NTT DoCoMo, Inc. in Japan and other countries.
NTT DoCoMo's FOMA service is only available to subscribers in Japan.
About KT Freetel
KT Freetel has been at the forefront of developing the information and communications industry in Korea since its establishment in December 1997. Serving more than 13 million customers, KTF, a second largest operator in Korea, is dedicated to exploring open-ended possibilities and opportunities for mobile communications, digital convergence and wireless data services. As a global leader of wireless data services, KTF launched EV-DO service in 2002, making it the earliest mover to next generation network. The company offers a variety of multi-media services including MMS, telematics, real time TV broadcasting and video on demand. And as one of the two W-CDMA licensee in Korea, KTF launched HSDPA network in 2006, which will provide a momentum for KTF to enhance its mobile service.
KTF is listed on the KOSPI (32390). For more information, visit www.ktf.com
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