SK Telecom told to cut market share

SK Telecom, which has acquired Shinsegi Telecomm, is required to reduce its market share in the nation¡¯s mobile telecommunications to less than 50% in terms of the number of subscribers by the end of June next year.

The Fair Trade Commission announced Wednesday that it rejected the request of SK Telecom to extend the deadline for reduction in market share.

The FTC noted that it wouldn't be impossible for SK Telecom to reduce it market share if it works hard by the deadline.

The market share of SK Telecom and Shinsegi Telecomm together hasn't changed much, going from May's 57.6% to August¡¯s 57.3%.

As for the FTC action, SK Telecom said that it is regrettable and added that it would decide whether it would file an administrative complaint as soon as the FTC officially informs its decision.

Choi Young-Hae moneychoi@donga.com