KT, LG U+ fined for manipulating state bids

Tuesday 30 April 2019 | 10:12 CET | News
South Korea's local antitrust agency Fair Trade Commission (FTC) fined KT, LG Uplus, SK Broadband and Sejong Telecom with a combined KRW 13.33 billion (USD 11.5 million) for rigging bids for state projects, according to koreatimes.co.kr citing the FTC. The companies rigged 12 biddings for government projects to set up dedicated lines between April 2015 and June 2017. The FTC will file complaints against KT with the prosecution.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: KT / LG / SK Broadband
Countries: Korea, Republic of
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Korea suspends Apple probe, company applies for consent decree

Published 08 Jul 2019 07:41 CET | Korea, Republic of
South Korea's Fair Trade Commission (FTC) has announced that its investigation on Apple Korea for possible abuse of power has ...

LG revenues slip in Q1, but improvement expected ahead despite slower world economy

Published 30 Apr 2019 14:16 CET | World
LG Electronics confirmed that revenues went to KRW 14.915 trillion in the first quarter, a decrease of 1.4 percent from the year ...

TVU Networks, KT partner in 5G UHD broadcast network

Published 21 Mar 2019 17:16 CET | Korea, Republic of
TVU Networks entered into a partnership with KT to bring UHD broadcast over KT's 5G enterprise network. Under terms of the ...

KT to start full-scale 5G commercialization this month

Published 04 Mar 2019 09:10 CET | Korea, Republic of
South Korean operator KT has announced it is preparing for the full-scale commercialization of 5G this March. The Korean operator ...

South Korean FTC conditionally approves Microsoft/Nokia deal

Published 25 Aug 2015 11:13 CET | World
The Fair Trade Commission (FTC), South Korea's antitrust watchdog, conditionally approved Microsoft's merger with Nokia's devices ...

Korea's FTC tells Google, Apple to revise app store policy

Published 08 Jul 2014 23:49 CET | Korea, Republic of
South Korea's antitrust watchdog, the Fair Trade Commission, has ordered Google and Apple to revise unfair provisions, including ...