KTF, LG TELECOM SNATCH MARKET SHARE FROM SK TELECOM.

AsiaPulse News, January, 2004

SEOUL, Jan 5 Asia Pulse - KTF and LG Telecom, the smaller two of South Korea's three wireless carriers, have snatched over 28,000 cell phone subscribers from market leader SK Telecom (KSE:17670) in the four days since number portability had been permitted, industry insiders said.

The "defections" are taking place under a revised rule that went into effect Jan. 1 and allows customers of SK Telecom to switch to another carrier without having to change their phone number.

Sources following the trend said that 12,670 people had decided to change from SK Telecom to KTF, while 15,789 had moved to LG Telecom.

Spokespersons for both KTF and LG Telcom, the country's No. 2 and No. 3 mobile service companies, said the switchovers were being conducted swiftly,...