Hyundai pulls out of plan to launch new mobile carrier

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Hyundai pulls out of plan to launch new mobile carrier

Hyundai 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.


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