May 24, 2010 / 7:41 AM / 9 years ago

S.Korea SK Telecom, Indonesia's Telkom to set up JV

SEOUL, May 23 (Reuters) - South Korea’s top mobile carrier SK Telecom (017670.KS) and Indonesia’s biggest phone company PT Telekomunikasi Indonesia (TLKM.JK) will set up a joint venture for digital contents business, SK Telecom said on Sunday. The venture, which will be 51 percent owned by Telkom and 49 percent owned by SK, is set to build a data exchange hub for music, games and video clips in Indonesia, SK said in a statement.

The two companies will also collaborate in the business-to-business market to provide network and other advanced telecom services for industrial players.

Globally telecom operators are looking for new services outside the saturated traditional telecom service market.

SK Telecom wants to enter overseas markets with its new business focus in the B2B area, after earlier attempts to establish mobile business in the United States and China failed. [nTOE64I06J]

Telkom, which is shifting its focus to data services and seeking growth in content, previously said it was eyeing acquisitions in data services sector.

(Reporting by Rhee So-eui; Editing by Jerry Norton)

((soeui.rhee@thomsonreuters.com; +82 2 3704 5650; Reuters Messaging: soeui.rhee.reuters.com@reuters.net))

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