South Korea rejects all bids for 4th mobile license

02 Feb 2016
00:00

South Korea's ICT ministry has rejected all three applications for the market's fourth mobile license after finding that the applicants failed to meet the necessary requirements.

The Ministry of Science, ICT, and Future Planning announced that the candidates failed to receive the required grade during expert assessment procedures, Yonhap Newsreported.

K Mobile, Quantum Mobile and Sejong Telecom had all applied for the market's fourth telecom license.

But the assessment procedure determined that all three companies lacked a credible fund raising plan or detailed plans on ways to establish networks and provide services, the report states.

This marks the seventh time since 2010 that South Korea has considered but ultimately failed to approve a fourth mobile operator. One company, Korea Mobile Internet, had tried and failed six times to secure a license, but stayed out of the most recent application process.

While subscribers in the nation have been calling for the introduction of a fourth operator due to demand for low-cost mobile plans, MVNOs are starting to fill this niche, and any new entrant would be competing in a saturated market.

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