OTHER NEWS - Aug. 20, 1992
Korean Phone Contract Awarded: An international consortium led by Korea’s Sunkyong and GTE of the United States has been awarded a multibillion-dollar private mobile phone project in Korea. About 440 companies, including 11 foreign partners, had formed six consortia to apply for the license, which is expected to generate annual sales of $3 billion by 2000. The announcement was expected to set off charges of favoritism because President Roh Tae-woo has family connections with the chairman of Sunkyong, the country’s fifth largest conglomerate.
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