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South Korean telecom giants fined by KFTC for customer-switching collusion

( March 12, 2025, 03:00 GMT | Official Statement) -- MLex Summary: South Korean telecom giants SK Telecom, KT, and LG Uplus have been fined a combined 114 billion won (about $78.4 million) by the country's antitrust watchdog for colluding to limit customer movement between carriers. From November 2015 to September 2022, the companies coordinated their sales incentives to prevent any single carrier from gaining too many customers through number portability, according to the Korea Fair Trade Commission. The regulator said the seven-year collusion drastically reduced the daily number of customers switching carriers, from nearly 29,000 in 2014 to just over 7,000 by 2022.The statement, in Korean, is attached....

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