Business Services Industry
KOREA'S TELECOM MINISTRY UNDER FIRE OVER SK TELECOM'S PRICE CUTS.
AsiaPulse News, January, 2004
SEOUL, Jan 5 Asia Pulse - The Ministry of Information and Communication, South Korea's telecom regulator, is facing criticism after it approved price cuts by SK Telecom without considering early termination fees, an industry source said Monday.
On Dec. 31, the ministry allowed SK Telecom, the biggest of South Korea's three mobile phone service providers, to cut rates by as much as 40 per cent for subscribers who are under a two-year contract.
If the subscribers try to stop using the cell phone service before their contracts expire, they will be required to pay an early termination fee.
The price cuts by SK Telecom helped the company fend off heavy potential customer turnover when a new rule that enables customers to switch wireless carriers without...
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