South Korea’s mobile phone operator KT Freetel and NTT DoCoMo have formed a venture fund worth $32.7 million.

South Korea’s mobile phone operator KT Freetel and NTT DoCoMo have formed a venture fund worth $32.7 million. The companies will take 45 per cent stake each, while Korean investment firm KTBnetwork will take the remaining 10 per cent. The fund, named KTF-NTT DoCoMo Mobile Investment Limited Partnership, will be managed by KTBnetwork and will operate for six years, with an option for a two-year extension.