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[Asia Economy Reporter Oh Su-yeon] Discount mobile carriers are strengthening their marketing efforts by launching new plans and expanding discounts ahead of new entrants from the financial sector. With Toss Mobile's launch imminent and several banks expected to enter the discount mobile market in April, these carriers are aiming to secure customers early.

Major discount mobile carriers have been launching new services and running various promotions since the beginning of this month.

KT M Mobile introduced two new 20GB 5G mid-tier plans on the 3rd, the first in the discount mobile industry. They added data tiers close to the average 5G user data consumption (26.94GB as of the end of November last year) to enhance customer choice.

LG HelloVision's Hello Mobile is attracting customers with lifetime discount plans. While discount mobile plans usually offer limited-time discounts, lifetime discount plans provide ongoing discounts as long as the line is maintained. Unlike the three major telecom companies, discount mobiles do not require contracts such as 24 months, allowing customers to switch freely. The discount aims to retain customers.

MediaLog has increased its discount rates, further lowering prices from last year's promotional rates. For example, the 5G 10GB plan with a base fee of 35,200 KRW, which was offered at 17,500 KRW last year, is now discounted to 15,900 KRW.

Additionally, SK Telink is running a promotion reducing prices on its LTE 100GB unlimited plan and three 5G plans. KT Skylife started eSIM self-activation services in December last year and is now promoting eSIM marketing.

Moreover, Viva Republica is expected to launch the discount mobile service "Toss Mobile" as early as this month. Viva Republica acquired the small discount mobile operator Merchand Korea in July last year to target the discount mobile market. With broad recognition and a customer base from existing services, plus the acquisition of a discount mobile operator, they have absorbed business know-how. Combined with innovative services like Toss Pay, they are highly likely to become a major player in the near future.

Furthermore, in April, the financial sector’s first discount mobile operator, KB Live M, is likely to obtain re-approval for its innovative financial services. Although KB Live M is a non-telecom operator, it leverages strong capital to engage in marketing and creates synergy with financial services, standing out in the discount mobile market. As of last October, it surpassed 350,000 subscribers, playing the role of a "catfish" in the discount mobile market. According to Consumer Insight surveys, it has ranked first in customer satisfaction for three consecutive years, outperforming the three major telecom companies and other competitors. Due to KB Live M’s success, financial sector interest in discount mobiles has increased, and second and third KB Live M-like operators are expected to emerge after April.

An industry insider explained, "With the telecom industry’s growing sense of crisis over financial sector discount mobiles, carriers are trying to secure customers before Toss Mobile starts its service."