Globalstar, Inc. (Nasdaq:GSAT) has signed a joint venture agreement with Arion Communication Co., Ltd., a provider of mobile satellite voice and data products and services to maritime customers in Korea. The new joint venture
company known as Globalstar Asia Pacific will operate the Globalstar gateway ground station in Korea and provide Simplex and duplex mobile
satellite voice and data services including SPOT Satellite GPS Messenger(TM) products and services to customers in Korea and the surrounding maritime region.
The two companies formed Globalstar Asia Pacific to acquire the existing gateway in Seoul from LG Telecom, which has been Globalstar's
service provider in the region since 2001. The acquisition and license transfer are subject to approval by the Korea Communications Commission (KCC) which is expected in the next few weeks. According to the agreement, Arion Communication will also provide Globalstar mobile satellite voice and data products and services in Korea. Globalstar, Inc. plans to provide the necessary engineering and technical training and personnel support required for Globalstar Asia Pacific to operate the Korean Globalstar gateway.
