Mobile carriers fined 20 bln won for alleged rent price fixing

▲ This file photo taken Jan. 22, 2024, shows the logos of the three major mobile carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- set up at a local shop in Seoul. (Yonhap)

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Mobile carriers fined 20 bln won for alleged rent price fixing

SEOUL, Jan. 25 (Yonhap) -- South Korea's antitrust regulator said Thursday it has decided to fine the country's three major mobile carriers around 20 billion won (US$14.97 million) combined for the alleged collusion of rent for the installation of their communication equipment.

SK Telecom Co., KT Corp. and LG Uplus Corp., along with SK ons Co., were fined 19.98 billion won as they were found to have colluded to lower their payment to owners of buildings where they installed telecommunication equipment from March 2013 through June 2019, according to the Fair Trade Commission (FTC).

Mobile carriers generally set up repeaters and other equipment on the rooftops of apartment and high-rise buildings, and they agreed in 2013 to form a consultative body and fix the rent in a move to lower costs.

The yearly rent per contract, accordingly, fell to 4.64 million won in 2019 from 5.58 million won in 2014 in major regions.

"The practice had directly caused harm to residents of apartments and those concerned, and hampered competition to enhance service quality," an FTC official said, explaining reasons for the decision.

Along with the fine, the regulator also called on them to take corrective measures.

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