Hyundai pulls out of plan to launch new mobile carrierHyundai Group has opted not to invest in a consortium to launch a new mobile carrier in the country, corporate sources said yesterday.
Hyundai affiliates, such as Hyundai Securities and Hyundai U&I, said they will not join the Internet Space Time consortium made up of small and medium businesses.
“The group as a whole decided not to play a role in the mobile carrier market,” a Hyundai executive said, citing various “complications” in the consortium as the cause of the decision. Industry insiders hinted that there were disagreements over management control and how the mobile carrier should be run in the future.
More in Industry
GS25, LG Electronics team up to offer robot delivery service
DSME fined ￦15.3 billion for mistreating subcontractors
Hyundai, Naver to work together on connected car systems
SK Telcom merges two security services subsidiaries
KDB requests sit-down with Asiana unions about takeover