On Thursday U.S. chipmaker Intel said that the firm is plans to invest $20 million in a wireless broadband joint business enterprise with Samsung Electronics and KT, based in South Korea.

The WIBRO Infra Co Ltd is looking to organize mobile Wi-MAX networks, in which South Korea’s National Pension Service has a stake. The Wi-Max will offer high speed of wireless internet access in South Korea.

South Korea’s top fixed line carrier, KT announced in May the establishment of the joint business enterprise with wealth of 320 billion won.

A KT spokesperson said that, “The National Pension Service will invest 100 billion won in the venture via KB Investment Co Ltd, while KT will spend 65 billion won and Samsung will pay 60 billion won.”

Industry official said that the other fiscal financiers are considering investments in the $281 million venture.

KT said that the coverage of Wi-Max network in South Korea is limited in few areas of the Seoul urban area and the Wi-Max will get bigger area around 28 cities by March next year which enveloping 85 % of the South Korean population.