r similar aspects of a subscriber's transmitted information, provision of additional, different or restructured information, and computer processing involving a subscriber's interaction with stored information" (Jeong 4). The Understanding also illustrates the examples of value added services as follows: code or format conversion, protocol conversions, store and forward, facsimile communications which involve store and forward or one of the functions listed above, database, remote computer service, electronic mail, electronic data interchange, message handling service, value-added facsimile service and voice mail.Business Sectors Open to Foreign InvestmentWith the enactment of the Basic Telecommunications Law and the Public Telecommunications Basic Law, KTA and DACCA has provided only data communications, lease circuit, and international voice telecommunications services. For any additional services, MOC approval is required. General Service Providers are closed to foreign investment. In addition, no one shareholder may hold more than 10 percent equity interest in General Service Provider companies. Equipment manufacturers are not allowed to own more than a 3 percent equity interest in General Service Provider companies.Also under the Basic Telecommunications Law and the Public Telecommunications Basic Law, three Korean telecommunications companies, KMTC, KPTC, and KOTIS were licensed as Special Service Providers. Special Service Providers are open to one-third foreign investment. In addition no one shareholder, domestic or foreign, may hold more than a one-third equity interest in any Special Service Provider company. No one equipment manufacturer or government-invested enterprise may hold more than 10 percent equity interest in Special Service Provider company.In August 1992, the MOC initially issued a preliminary license for mobile telephone services as a competitor of the Special Service company, KMTC. For the license, six ...
