December 18, 2000 in Social Responsibility News

Extension of Australia's Hutchison guaranteed contract period

Contents

Extend period of P-bond issued from ExportImport bank regarding the contract with Hutchison to supply CDMA equipment.





Bank
Usage
Guaranteed coverage
guaranteed interest rate
period


ExportImport bank
P-bond
$25,099,880
0.7%
Dec.18,2000~

Dec.17,2001(1year)




Guaranteed coverage, set at 20% of total contract(125million dollars) with Hutchison



Background and Purpose

- Delay in business operation plan regarding Hutchison due to delay in building network and improving service quality.

- Completion of contract: Dec.,2000->(changed to) end of June, 2001

- Contract partner Hutchison recognizes that operation of telecommunication equipment business is being delayed due to local situation. Extension of guaranteed period is needed for smooth operation of this business. Under mutual understanding and agreement the two parties are working to shorten the business operation timetable.


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