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South Korean telecom giants fined by antitrust regulator for price fixing

By Jenny Lee ( January 25, 2024, 04:43 GMT | Insight) -- South Korea’s leading telecom providers have been hit with fines totaling 20 billion won (about $15 million) and issued corrective orders by the country’s antitrust watchdog for their involvement in a price-fixing scheme. The Korea Fair Trade Commission announced its decision to sanction LG Uplus, KT, SK Telecom and SKONS in a statement today, citing their collusion to fix rental fees for mobile communication-equipment installation sites, such as apartment rooftops and small land plots.South Korea’s leading telecom providers have been hit with fines totaling 20 billion won (about $15 million) and issued corrective orders by the country’s antitrust watchdog for their involvement in collusion to fix prices....

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