SKT fined for handset subsidies

South Korea’s Ministry of Information is to fine SK Telecom USD10 million for breaking rules on handset subsidisation. The fine covers the first two months of 2004, when SK Telecom was found to be offering illegal sweeteners to attract customers. The ministry further ruled that it will continue to monitor SK for anti-trust practices until 2006, two years longer than it intended following SKT’s 2002 merger with Shensegi.