South Korean telecom operator SK Telecom announced on Tuesday that it would invest US$1 billion to jointly build a digital content and design center in China with several of its partner and subsidiary companies.
SK Telecom reportedly has signed a preliminary agreement with the Chinese government and it will build the digital content and design center with its brother companies, including SK Engineering & Construction Co., Ltd, in the southeast part of Beijing. The construction of the Center is expected to be commenced in 2010 and completed in 2013.
SK Telecom said that the new Center will meet the dramatic increase of demand in digital content and they hoped that more multinational companies and Chinese venture capitalists could join them.
SK Telecom's CEO Shin Bae Kim said that they expect to see more digital content with Chinese culture characteristics come out and finally be exported to the global market.