Competition in the South Korean mobile market was tipped to heat up as ten MVNOs prepared to release low-cost 5G data plans following steps by the Ministry of Science and ICT to relax pricing rules, Yonhap News Agency reported.
Tariffs to be unveiled this month will offer subscribers as much as 30GB of data for KRW40,000 (US$35.39) a month, the ministry reportedly stated. The rates will be below the standard offerings from major MNOs SK Telecom, KT and LG Uplus.
Yonhap News Agency stated the ministry changed regulations three months ago to allow MVNOs to set 5G data rates without cooperating with the MNOs to increase competition.
The news outlet reported MVNOs had around 7,000 5G subscribers at end-February, compared with a combined 13.7 million from the leading operator trio.
All told, 5G accounted for nearly a quarter of total mobile connections in the nation.
Earlier this month, Yonhap News Agency reported the big three face legal action from 5G users dissatisfied with the data rates and coverage provided.