LG TELECOM SETTLES WITH MUSIC INDUSTRY.

(From Asia Pulse)

SEOUL, Nov 23 Asia Pulse - LG Telecom Ltd. (KOSDAQ:32640), the smallest of South Korea's three mobile phone operators, said Tuesday it has reached a settlement with music industry groups in a dispute over MP3 mobile phones sales.

In a statement, LG Telecom said the settlement was reached with three music industry groups including the Music Industry Association of Korea, the Seoul-based lobby group that represents major labels.

LG Telecom said it will soon sign similar settlements with two other music-related organizations that own parts of intellectual property of digital songs.

Under the deal, LG Telecom subscribers will …