News
Country’s three main mobile network operators secure frequencies, 700-MHz block remains unsold.
South Korea’s latest multi-band spectrum auction has drawn to a close, raising 2.11 trillion won (€1.6 billion).
The process fell short of expectations due to a lack of serious competitive bidding and the fact that one of the available spectrum blocks was left unsold.
The biggest spender in the process was SK Telecom, which picked up both blocks of 2.6-GHz frequencies, agreeing to pay KRW1.28 trillion (€964 million).
KT secured the 1800-MHz airwaves at the KRW451.3 billion reserve price, while LG Uplus agreed to pay the minimum price of KRW381.6 billion for the available 2.1-GHz spectrum.
A package of 700-MHz airwaves, priced at KRW762 billion, failed to attract a buyer.
South Korea’s Ministry of Science, ICT and Future Planning (MSIP) revealed the results in a local language statement on Monday.
The reserve prices attached to the spectrum show the state expected to generate upwards of KRW2.58 trillion from the sale.
The ministry said the auction was carried out smoothly and without excess competition. As a result, each operator has a foundation on which to proceed with network investments and to support advanced services and to accommodate growing data traffic, it said.
