Kbiz (Korean Federation of Small and Medium Businesses) said that it plans to apply for a mobile license in August 2011, aiming to become the fourth mobile operator in Korea, according to a July 19, 2011 report by the Korea JoongAng Daily. As per Kbiz's proposal, a consortium, constituted by the organization itself and approximately 900 SMBs (Small- and Medium-Sized Businesses), will be set up. Initial investment is estimated at 100 billion won (US$94.9 million; US$1=1053.7 won), and possible investors are likely to include Samsung Electronics. Kbiz said that it plans to adopt Wibro technology, rather than LTE (Long Term Evolution). Currently, there are three mobile operators in Korea, KT, SK Telecom, and LG Uplus.