Kang Sang-hyuk, Chairman of the Korea Communications Commission, Urges the Three Telecom Companies to Strive for Coexistence and Job Creation

CEO Meeting of the Three Major Telecom Companies at the Press Center on the 15th

Hansanghyuk, Chairman of the Korea Communications Commission, is attending a meeting with CEOs of the three major telecommunications companies held at the Press Center on the afternoon of the 15th.

[Asia Economy Reporter Minyoung Cha] "We will urge the three major telecom companies to make efforts for mutual growth with small and medium-sized enterprises, job creation, and alleviation of household communication cost burdens."

On the afternoon of the 15th, Han Sang-hyuk, Chairman of the Korea Communications Commission (KCC), held a meeting with representatives of the three major telecom companies (SK Telecom, KT, LG Uplus) at the Press Center to discuss key issues in the broadcasting and telecommunications market and to hear industry opinions.

Marking the first anniversary of the 5th KCC term, this meeting was arranged to discuss overall broadcasting and telecommunications policy issues amid ongoing difficulties in the livelihood economy due to COVID-19, including ▲support for small retail stores and partner companies ▲strengthening user protection in the intelligent information society ▲reduction of household communication costs ▲activation of broadcasting and telecommunications services.

Chairman Han Sang-hyuk stated, "In the 5G quality evaluation conducted in the first half of this year, coverage and transmission speed have improved, but complaints and dispute applications regarding communication quality continue," and requested, "Please expand investments to improve 5G and ultra-high-speed internet quality and do your best to remedy user damages."

He also urged efforts to enable the public to feel the reduction in communication costs through measures such as expanding official subsidies, as the increase in high-priced devices could lead to a burden on household communication expenses. At the same time, he highly evaluated the three telecom companies' efforts to develop new business models, including entering innovative services based on 5G, and requested strengthening mutual growth cooperation between large and small businesses as well as expanding job creation and educational support for young people.

KT CEO Koo Hyun-mo attended the meeting of CEOs from the three major telecommunications companies held at the Press Center on the 15th.

He also mentioned that ICT-based smart quarantine systems played a significant role in responding to COVID-19 and requested cooperation from the three telecom companies to ensure safe hometown visits during the special quarantine measures period for this Chuseok holiday.

The telecom company representatives said, "We share the recognition that mutual growth among participants is important for the virtuous cycle of the broadcasting and telecommunications ecosystem. We plan to make advance payments to small retail stores and partner companies for Chuseok and will actively cooperate with policies for mutual growth between large and small enterprises in the future."

They also stated, "We will enhance networks such as 5G and ultra-high-speed internet to improve communication quality so that users can feel the difference, and we will make every effort to remedy damages caused by ultra-high-speed internet speed degradation."

Hwang Hyun-sik, CEO of LG Uplus, attended the meeting of CEOs from the three major telecommunications companies held at the Press Center on the 15th.

Chairman Han Sang-hyuk also expressed the opinion that platform regulation is necessary. He said, "Both the National Assembly and the government see the need for regulatory measures, and whether the mutual growth plan proposed by Kakao is currently appropriate and meets public demands needs to be examined carefully," adding, "I think the direction is well set, but we will review whether it meets the public's demands and provide additional opinions if it is deemed insufficient."

He continued, "Recently, the influence of online platforms has been growing in various areas such as content consumption, service transactions, communication, and political, economic, social, and cultural fields, so a reasonable regulatory system is needed to drive innovative growth and establish a foundation for fair competition," and stated, "The KCC is preparing plans to improve the related legal system to invigorate the ICT ecosystem while enhancing user rights and interests." He also requested interest and support for this.

The Korea Communications Commission announced that it will strengthen policy cooperation with telecom companies to enhance the national competitiveness of the telecommunications industry, taking this meeting as an opportunity.