SEOUL, Aug 17 Reuters South Korea39;s antitrust regulator said it had imposed a total of 33.6 billion won 25.06 million in fines on three domestic mobile carriers for exaggerating their 5G network speeds.

The Korea Fair Trade Commission KFTC said the three South Korean firms SK Telecom Co Ltd, KT Corp and LG Uplus Corp  had also unfairly advertised that they were the fastest relative to their competitors.

The three teleco companies advertised that consumers could use target 5G network speeds, which cannot be achieved in reallife environment … companies advertised that their 5G network speed was faster than competitors without evidence, the KFTC said in a statement.

In support of ongoing civil lawsuits filed by consumers, the advertisements released by the three mobile carriers have been presented by the regulator to a local court.

SK Telecom and KT Corp declined to comment. A spokesperson at LG Uplus said the company is reviewing the sanctions.

The KFTC imposed a fine of 16.8 billion won on SK Telecom, 13.9 billion won on KT and 2.8 billion won on LG Uplus.

There were 30.76 million 5G network users in South Korea in June, accounting for about 38 of the total 80.23 million mobile subscriptions in the country, according to data from the Ministry of Science and ICT.

1 1,340.9700 won

Reporting by Heekyong Yang; Editing by Gerry Doyle and Devika Syamnath

Source Reuters