[NEWS] Intel is eyeing “5~6 Korean wireless LAN developers for potential investment”

Intel reportedly sets its eyes on 5~6 Korean wireless LAN developers for potential investment.

Caedol Chung, the director in charge of Asia Pacific investment of Intel Capital, explained at “Wireless LAN forum” held on 8th at Intercontinental Hotel in Seoul that “Intel has made investment in 12 wireless LAN companies worldwide so far,” and added, “it is currently reviewing 5~6 Korean companies for possible investment as well.”

This investment plan is part of its initiative to invest US$ 150 Million to nurture the wireless LAN industry.

And he explained, “Given that more than 10,000 hotspots have already been established in Korea. We will, therefore, focus our investment on application, hardware and software developers rather than deployment of service infrastructure.”

Intel usually makes investment worth US$ 1~5 million in each beneficiary company.
So far, 20% of the total US$150 million has found the destination.

In the meantime, scores of domestic companies were invited to Intel wireless LAN forum including Blue Socket, Filonet Korea, Icube Corp., Interlink Networks, Iphone, IS-Data, Kosan I&T, LinkPro, Moin Valley, Normadix, nTels, Oden Wireless Networks Technology, Pronto Networks and Soft Power.

Updated date: 2003.04.08
Reporter, Lee Gwan-bum, bumie@inews24.com

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