The South Korean government has given a conditional approval for SK Telecom’s $1.2 billion purchase of a 38.9 per cent stake in the broadband service provider, Hanarotelecom.

The South Korean government has given a conditional approval for SK Telecom’s $1.2 billion purchase of a 38.9 per cent stake in the broadband service provider, Hanarotelecom. However, the country’s Ministry of Information and Communication ordered SK Telecom and Hanarotelecom to take steps to protect users and help fair competition in the telecom market. The telecom ministry has also stated that it will not link SK Telecom’s current monopoly of the 800 MHz mobile phone frequency band with the Hanarotelecom deal.

South Korea’s Fair Trade Commission had earlier asked the ministry to review band usage so that it may be shared with SK Telecom’s competitors such as KTF Company and LG Telecom.