South Korea imposes a combined fine $19.57 million on SK Telecom, KTF and LG Telecom

South Korea has imposed a combined fine of 19 billion won or $19.57 million on SK Telecom, KTF and LG Telecom for unfairly subsidising handset costs for new subscribers. The government is concerned that a battle to woo customers is undermining fair competition in a saturated South Korean market where four out of every five people have a mobile phone. It fined market leader SK Telecom 13.8 billion won, second ranked KTF 3.7 billion won and LG Telecom 1.5 billion won.