A leading South Korean telecommunications company signed a licensing agreement with the government Thursday that will allow it to bring faster communication equipment to Cambodia.
The license agreement between SK Telecom and the Ministry of Telecommunications will allow the Korean company to begin installation of a communications network that is up to 15 times faster than existing systems in Cambodia, said Choi Young Min, a spokesman for SK Telecom.
Ministry officials confirmed the deal, but no further information was available Thursday. The technology allows for the transfer of video feeds and other services, such as news, photos and music, Choi said. SK Telecom is completing its plans and proposing network sites around the country.
The system is expected to be up and running under a “019” prefix by Oct 1, Choi said, adding that the company was installing similar networks in China and Vietnam.
The company will bring with it “roughly $13 million” in initial capital to install the network system, Choi said, adding that the company hoped to sign up between 20 percent and 30 percent of new mobile phone users over the next few years with the faster communications technology.
The other five networks in Cambodia currently use an older generation of technology, said Kith Meng, chairman of the Royal Group of Companies, which is the parent company of MobiTel.
MobiTel holds the majority of Cambodia’s mobile phone market, and it has no immediate plans to upgrade its technology, he said.