[NEWS] nTels was named as the promising small and mid-sized telecommunication company

‘From the website of the Ministry of Information and Communication (MIC)’ The MIC recognized the small and mid sized companies of the Year and promising companies of 2002.

Ministry of Information and Communication (MIC) awarded the “Small & Mid-sized Telecom Company of the Year Awards” and issued the “Promising Small & Mid Sized Telecom Company of 2002 Certificates” in the morning on 21st December at Sejong Center for the performing arts in Seoul.

NC Soft Co., Ltd., an online game developer, won the grand prize as the Best Small & Mid-sized Company of the Year while Korea Telecom Data Inc. and Withus Co., Ltd. were awarded the gold prizes and 6 companies including HumanCom Inc. silver prizes.

Furthermore, 94 companies in 11 areas including wireless communication equipment and digital broadcast were named to be subsidised by the MIC for the next 3 years as the promising small & mid sized telecom companies.

Since 1985, the Ministry of Information and Communication has been pursuing the initiative to designate and support promising small & mid-sized telecom operators. It is aimed to enhance the professionalism in small & mid sized or venture companies in telecommunication industry and to boost their technical competitive edges. As part of its initiative, MIC names the potential key and strategic products and companies with outstanding technology and performance to support them.

MIC, so far, has used this initiative to select total of 496 companies and to provide them with financial support worth 274.9 billion won in the Informatization promotion fund and technical support and knowledge for 66,081 cases. Among them, 12 companies including Pantech listed their shares in Kospi and another 58 including AhnLab Inc. in Kosdaq.

For further information, please contact Jeon Young-soo, an officer of Industrial Technology Department, Information & Communications Policy Bureau by phone at 750-2362 or e-mail at ysjeon@mic.go.kr. The list of small and mid sized companies of the Year and promising companies of 2002 is attached.

‘It is com’ nTels was named as the promising small & mid sized telecom company

nTels (CEO, Shim Jae-hee), an wireless and wired internet billing solution provider, announced that it was named as the promising small and mid sized telecom company by the Ministry of Information and Communication (Minister, Yang Seung-taek, Hereafter referred to as MIC/ www.mic.go.kr).

MIC has selected 94 companies in 11 sectors as the promising small & mid-sized telecom companies and nTels was named as the one in billing business.

As a result, the company will be entitled to the comprehensive support from MIC for the next 3 years in the areas of funding, technology development and public relations. What’s more, it can draw on the recognition by the government to make its inroads into foreign markets, Singapore and China in particular.

Mr. Shim, CEO of nTels explains, “The government has recognized the technical strength and potential profitability we have in billing solutions for wireless and wired internet packet network as well as billing and payment support for lucrative business model.”

And he adds, “In particular, this will greatly help nTels further spearhead its efforts to move into foreign markets including China and other South East Asian markets, as it was publicly certified by the government that it has the advanced technology and solutions which have been developed through various projects with domestic wireless carriers such as SK Telecom.”

“Also it is extraordinarily significant in a sense that the recognition came as nTels has been pushing for expansion into Chinese market as a company which has supplied billing data mining and e-payment solutions for CDMA 2000 1 x service. Especially China Unicom, a Chinese carrier, is planning to launch its service coming January with CDMA as its technical standard in an effort to brace itself for the next generation wireless internet.”

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