[THE INVESTOR] SK Telecom will join hands with Thailand’s CAT Telecom and enter the Southeastern country’s electronic payment market, Thai daily The Nation reported on July 19.

Surapant Meknavin, acting president of the public enterprise, acknowledged that the two telecom operators will set up a joint venture to provide an e-payment gateway service. 


SK Telecom will own 51 percent of the JV, reportedly named Tree Pay, with registered capital of 200 million baht (US$5.72 million). Scheduled to be launched this quarter, Tree Pay seeks to profit from the fast-growing online businesses in Thailand, which is estimated to be over 10 billion baht.

This is the first time the Thai state-owned company has collaborated with a foreign partner. CAT Telecom monopolizes international telephone infrastructure, satellite and underwater cable networks.

By Hwang You-mee (glamazon@heraldcorp.com)