SK Telecom & Telkom set up $10 million business (South Korea)

www.WirelessFederation.com/news: $10 million digital content business has been set up by Korean cellco SK Telecom along with Telkom Indonesia. SKT will take a 49% stake and Telkom 51%. The partners will invest KRW 12.5 billion ($10.48m) in the hub.

According to S K Telecom, the two would establish a hub to distribute music, games and video clips to Indonesian consumers and they will also offer it as a platform for online music stores and other telecom operators.

The telco claimed that it would bring its experience in running the MelOn music store in Korea and it would source digital content and manage the hub’s operations, while Telkom will provide local marketing and billing.