According to the Korean Science, Technology, Information and Telecommunications Committee, in the period 1995-2004, Korean mobile phone makers such as LG and Samsung paid US$2.16 billion in royalties to Qualcomm, which owns the patent for CDMA technology. An agreement, signed in 1993 by Korean mobile phone makers and Qualcomm dictates the following: until 2006 Korean makers have to pay 5.25% of a mobile phone's selling price to Qualcomm when it is sold in the Korean market; until 2008 Korean makers have to pay 5.75% of the selling price when a mobile phone is sold in overseas markets.