Trade Conflict in Communications Industry Stirring

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Trade Conflict in Communications Industry Stirring

Trade conflict in communication services between South Korea and United States is looming on the horizon.
Communication service companies in the United States are vigorously protesting, via the U.S. embassy, Korea's schedule for the opening of its market.
Various company officials arrived in Korea to publicly criticize the unfairness of the Korean government's regulations that restrict foreign investors from holding shares in domestic communications companies.
The Ministry of Information and Communications (MOIC) recently announced that it will tighten regulations for communication service providers this year, in order to prevent a premature excess of investment and settle down the unruly and aggressive competition.
On this point, Andy Krieg, chairman of WACI, submitted a highly critical letter to the MOIC, on February 25. Reportedly more than 10 other communication service companies will also deliver strongly-worded letters as well.

By Jangsoo Seo

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