The Korea Fair Trade Commission (KFTC), South Korea's antitrust regulator, has fined three domestic mobile carriers a total of 33.6 billion won ($25.06 million) for exaggerating 5G speeds.

SK Telecom received a fine of 16.8 billion won, KT 13.9 billion won, and LG Uplus 2.8 billion won.
The action taken by the KFTC addresses the issue of mobile carriers falsely advertising 5G speeds, and misleading consumers about the actual speeds of the networks. Carriers exaggerated the speeds of their 5G networks, a clear violation of fair competition rules. By imposing these fines, the regulator aims to ensure transparency and accuracy in the telecommunications industry and protect consumers from false advertising claims.

Why does it matter?5G technology is transforming many industries and enabling innovative applications and services. The fines send a signal to demonstrate South Korea's commitment to promote transparency and fair competition in the industry and foster consumer trust.