GE eyes Korean cable TV

Company may invest in unit
By DARCY PAQUET


General Electric may consider investing in the Korean cable TV sector, if a recently concluded free trade agreement between the U.S. and South Korea is ratified.

GE Korea prexy Hwang Soo said in a press conference on Thursday that senior executives from NBC and CNBC visited Korea last month and saw potential in the local broadcasting market.

"With a view to advancing into the market, they are currently considering a variety of options, including M&A, equity investments, or content sharing," said Hwang.

The new free trade agreement will for the first time allow up to 100% ownership of Korean cable TV firms by foreign companies. Nonetheless, with the measures scheduled to go into effect two years after the trade deal's ratification, GE officials say it is unlikely that concrete plans will develop anytime soon.