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MIC demands USD109 million 3G spectrum fees from LGT

28 Jul 2006

South Korea’s Ministry of Information and Communication (MIC) has said it will demand fees of KRW103.5 billion (USD108.8 million) from the country’s smallest mobile operator LG Telecom (LGT) for its exclusive use of the 2.0GHz bandwidth between May 2002 and the revocation of its 3G concession this month. The MIC cancelled LGT’s 3G licence after ruling that the cellco had not made enough progress towards launching next-generation mobile services. Earlier this week LGT appointed vice president Jung Il Jae as its new president and CEO, after former CEO Nam Yong resigned at the behest of the MIC. Under current laws any person involved in the acquisition of a licence must step down if that licence is then subsequently cancelled.

South Korea, LG Uplus

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