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South Korea’s antitrust regulator, the Korea Fair Trade Commission (KFTC), has announced that it will impose fines totaling 33.6 billion won (.06 million) on three domestic mobile carriers for exaggerating their 5G network speeds. The companies involved are SK Telecom Co Ltd, KT Corp, and LG Uplus Corp. The KFTC stated that these companies had unfairly advertised their 5G network speeds as the fastest compared to their competitors, despite lacking evidence to support these claims.

The commission hopes that this action will discourage the use of unfair advertisements and promote fair competition in the industry. SK Telecom and KT Corp have declined to comment on the matter, while LG Uplus said that it is currently reviewing the sanctions. The KFTC mentioned that the penalties for each company would differ but did not disclose the specific amounts at the time of the statement.

Data from the Ministry of Science and ICT shows that South Korea had 30.76 million 5G network users in June, accounting for approximately 38% of the country’s total 80.23 million mobile subscriptions. The country has been at the forefront of 5G technology adoption and has seen significant growth in its user base.

Overall, this recent action by the KFTC demonstrates the regulatory body’s commitment to ensuring fair practices in the telecommunications sector and maintaining the integrity of claims made by mobile carriers regarding their network speeds.

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