3 Carriers' Profits from LTE Services Estimated at KRW18.6tn
People’s Solidarity for Participatory Democracy said on Dec. 28 that the LTE service-related profits of SK Telecom, KT and LG U+ from 2012 to 2021 amount to 18.6 trillion won.
“SK Telecom’s profit amounts to more than 10 trillion won and those of KT and LG U+ amount to over 4.6 trillion won and over 3.9 trillion won, respectively,” it said, adding, “These are excessive profits and they need to cut phone bills.”
According to the civic group, their annual marketing expenses amount to eight trillion won or so, which is almost three times their annual operating profit, and their profit would have reached 50 trillion won if the expenses had been reduced by 50 percent.
“With the three mobile carriers enjoying huge profits with their LTE services alone, the government and the National Assembly need to make them cut phone bills,” it said.