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Marketplace, a new video ringtone service, is released by SK Telecom on Tuesday. [SK TELECOM]

SK Telecom will now let content creators produce short videos to be used and sold as video ringback tones through a new service called Marketplace, the company said Tuesday.

Video ringback tones, called V Coloring from the app of the same name, are offered by all three mobile carriers in Korea for a monthly subscription of 3,300 won ($2) with no additional charges depending on the video.

A ringback tone or video is what a caller hears or sees when they call someone else.

Creators who submit their videos on Marketplace will be paid according to the number of times their videos are used by V Coloring users.

The service can be used by creators who are officially licensed, but the company will later expand it to individual producers, according to SK Telecom.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]