Saturday, July 22, 2006

LG Telecom loses 3G licence in Korea

Remember the news that a Korean government-appointed panel had recommended revocation of LG Telecom's right to 3G on the 2GHz band? Well, it happened. Interestingly, investors think this is great news for the company, pushing its stock sharply upward on the news -- possibly because the technology for which the license was issued has failed to become a commercial success. LG Telecom now looks to instead deploy EV-DO rev. A on the more widely-accepted 1.8GHz band, but at any rate, Korea takes their 3G deployments seriously -- per regulation, the government is now pressing for CEO Nam Yong's removal.

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