Ownership of Communications Industry Opened Up
The government will allow any company or group to buy and take over key communications industries such as local telephone, cell phone servers, and pagers.The Committee for Deregulation on September 27 announced that they reached the decision so as to ensure business deals in the communications sector can proceed more rapidly to boost the economy.
The committee will also simplify the rules on the sale and creation of radio stations, which gives direct permission without a long bureaucratic delay. Furthermore, stock possession limitations for foreigners on key communication trade is going to be enlarged from 33% to 49%.
In addition to that, any foreigner who holds an amateur ham license will be able to operated his own wireless station without discrimination.
with the Korea JoongAng Daily
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