|Orascom Telecom inaugurates the first 3G mobile network in the Democratic People’s Republic of Korea|
|Monday, 15 December 2008|
Pan-African telecoms group Orascom Telecom has launched North Korea’s first 3G WCDMA network in a majority-owned joint venture with the state-owned incumbent KPTC. Under the 25-year UMTS licence, the company has exclusive rights to provide 3G services in North Korea for the first four years. The WCDMA network currently covers Pyongyang, the capital, while most of the major cities will be covered during the first 12 months of operations. Orascom Telecom intends to invest US$400 million in its WCDMA network rollout in North Korea by 2011.
Orascom Telecom Holding (OTH) celebrates today the inauguration of Koryolink, the latest addition to the successful list of OTH subsidiaries. Koryolink is the first 3G mobile network to operate in the Democratic People's Republic of Korea (“DPRK”) and is established as a joint venture between OTH (75%) and Korea Posts and Telecomm Corp. (KPTC) (25%).
OTH was awarded the license to establish a 3G mobile network in DPRK in January 2008. Koryolink has deployed its 3G network to initially cover Pyongyang, which has a population of more than 2 million, with an ambitious plan to expand its coverage to the entire country. Koryolink will deliver world-class voice and data communication services to the people of the DPRK.
Mr. Naguib Sawiris, Chairman and CEO of OTH said: “This is not just about providing 3G mobile services; we are making history in a country that is developing and opening up in a remarkable way”.
With the inauguration of Koryolink, OTH continues its successful strategy of penetrating high growth markets.
About Orascom Telecom
Orascom Telecom is a leading international telecommunications company operating GSM networks in high growth markets in the Middle East, Africa and South Asia, having a total population under license of approximately 453 million with an average mobile telephony penetration of approximately 46% as of September 30th, 2008.
Orascom Telecom operates GSM networks in Algeria ("OTA"), Pakistan ("Mobilink"), Egypt ("Mobinil"), Tunisia ("Tunisiana"), Bangladesh ("banglalink"), Zimbabwe ("Telecel Zimbabwe"), and North Korea (“Koryolink”). Through its subsidiary Telecel Globe, OTH also operates in Burundi and the Central African Republic. Orascom Telecom had over 79 million subscribers as of September 30th, 2008.
Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange under the symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange its GDR is traded under the symbol (ORTEq.L, OTLD LI).