The FTC has launched an on-site investigation into three telecom companies and six banks at the same time

The FTC has launched an on-site investigation into three telecom companies and six banks at the same time: COMPANY / Reporter Paul Lee / 2023-02-28 05:09:28

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

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[Alpha Biz=(Chicago) Reporter Paul Lee] The Fair Trade Commission launched an on-site investigation into three telecommunication companies (SK Telecom, LG U+, and KT), the telecommunications industry, including major associations, and six banks at the same time.

According to related industries on July 27, the Fair Trade Commission's Market Supervision Bureau sent investigators to three telecommunication companies to launch an on-site investigation. The FTC is said to be looking into whether the three telecom companies, which are monopolistic operators, restricted competition through unfair practices. On the same day, major telecommunications associations such as the Korea Telecommunications Operators Association (KTOA) and the Korea Information and Communication Promotion Association (KAIT) were also investigated.

In addition, the FTC began an on-site investigation of six banks, including Shinhan, KB Kookmin, Hana, Woori, NH Nonghyup and IBK Industrial Bank of Korea. The Fair Trade Commission is said to be looking into whether there was any collusion in differences in deposit and loan rates and customer fees.