Small Telecom Fee Long-Term Delinquents Escape Debt Collection Pressure

The Financial Supervisory Service and the three major domestic mobile carriers have established a new policy to protect long-term small-amount overdue telecommunication fee payers. Starting from December this year, collection activities will be halted for telecommunication fees under 300,000 KRW that have been overdue for more than three years.

According to the Financial Supervisory Service on the 9th, the three mobile carriers?SKT, KT, and LG Uplus?will no longer directly collect or outsource the collection of such debts. Additionally, they plan not to sell these debts.

While financial debts could not be collected once the statute of limitations was completed, telecommunication debts lacked such protective measures. This new policy is expected to partially resolve this issue.

The new policy applies to individuals and sole proprietors, and if the total overdue telecommunication fees across all lines used by the consumer amount to less than 300,000 KRW, collection activities will be prohibited.

A Financial Supervisory Service official stated, "With this measure, consumers who have been under pressure from long-term debt collection will be able to escape collection and return to their normal daily lives," adding, "We will continue to make efforts to prevent unfair debt collection and protect consumers."