Printed from http://www.electronista.com

South Korea looks to cut cellphone rates

updated 11:45 am EDT, Thu June 2, 2011

SK Telecom first to lower monthly rates

The South Korean government is reportedly placing pressure on local cellular carriers to lower their pricing structures. SK Telecom, the largest mobile provider in the country, is the first to respond to demands from regulators. The company will reduce its monthly charge by 1,000 won (~$0.92 USD) by September, bringing the average monthly fees down to approximately 11,000 won (~$10.21 USD), alongside other promotions and plan changes.

The pressure on telecom companies is part of the government's broader strategy to combat rising prices for consumer products. Regulators from the Korea Communications Committee suggest the changes in SK Telecom's plan pricing will have a combined annual benefit of approximately 750 billion won (~$696 million USD).

Cellphone services only represent a small percentage of consumer spending, however the government has also influenced companies in other sectors, such as fuel providers, to make similar cuts in prices. Aside from pressure on private companies, import tariffs for food goods have also been reduced. [via Wall Street Journal (sub. required)]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News