The nation’s antitrust watchdog said that SK Telecom (South Korea top mobile carrier) must share its highly efficient radio frequency bandwidth with rival companies as part of its obligations entailed in a deal to take over a fixed-line Internet service operator.
Last year, SK Telecom acquire 38.89 percent stake in Hanarotelecom Inc. (nation’s second-largest Internet service provider) raising fears that the takeover could disrupt fair market competition by creating a mega-company that would dominate both in mobile and fixed-line communications.
To prevent the anti competitive market environment , SK Telecom must share its 800 Mhz Frequency bandwidth with the other two smaller carriers as Fair Trade Commission (FTC) gave the approval for the buyout and demands it.
- February 1st, 2008
- 11:19 am
Korean communications provider Hanarotelecom has seen 2007 revenues go up 8.4 percent on growth in its HanaTV service, voice services and corporate services. Hanaro’s revenues totalled KRW 1.87 trillion, versus KRW 1.72 trillion in 2006, the company said in a preliminary statement. Operating profit went up 162 percent to KRW 80.94 billion, from KRW 30.84 billion, on the back of revenue growth and efficient execution of marketing expenses. Net income turned positive at KRW 7.24 billion, from a net loss of KRW 86.05 billion in 2006, owing to increased revenues and operating income.
Wireless Mobile Telecom Wireless News
South Korean telecommunications provider hanarotelecom posted revenues of KRW 461.7 billion, up 7.7 percent from KRW 428.7 billion in Q2 2006, owing to robust growth across all business segments including broadband, voice and corporate business. Operating income surged to KRW 19.4 billion from KRW 7.5 billion, and the company recorded a net income of KRW 2.1 billion versus a loss of KRW 16.2 billion in the year-ago quarter. EBITDA went up to KRW 143.5 billion, compared with KRW 132.8 billion, on the back of revenue growth and sales of bundled services. The company said that strong subscriber growth continued, with broadband net adds of 32,000 and voice net adds of 66,000 in the second quarter. The number of 100 Mbps broadband subscribers exceeded 1.25 million. The number of hanaTV subscribers exceeded 500,000 and hanaTV revenues totalled KRW 7.7 billion.
Wireless Mobile Telecom Wireless News
SK Telecom to share Radio Bandwidth with rivals (South Korea)
