Local Phone Fees to Be Bumped Up
The local telephone rate will be increased from 45 won per minute to more than 55 won starting in July.Namgung Seuk, minister of information and communication, announced on May 14, 'The spread of high-tech Internet networks needs at least 650 million dollars, so a local fee hike is inevitable to make up for the amount of money.'
Likewise, the basic monthly fee will also rise by at least 1,000 won per month.
The government is also trying to induce 2 billion dollars of foreign capital through issuing securities and bonds. The government wants to set the share price of Korea Telecom at 48 dollars per share.
Hwashik Bong : trojans@joongang.co.kr
with the Korea JoongAng Daily
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