SEOUL, KOREA- SK Telecom and LG U+ plan to lower their membership fee by 40 percent from August 19. Under this plan, SK Telecom will cut its membership fee from 39,600 won (including value-added tax) to 23,760 won, while LG U+ to 18,000 won from the current 30,000 won.

Prior to these moves, KT had cut its membership fee by 40 percent from 24,000 won to 14,400 won on August 16. The reduction of mobile membership fees is one of Presidential election promises made by the President Park Geun-hye. The government plans to order the telecom operators to reduce the mobile membership fees by 40 percent this year, and additional 30 percent each in 2014 and 2015.

Under this plan, the membership fee of SK Telecom, LG U+, and KT will be lowered to 11,880 won, 9,000 won and 7,200 won, respectively, within next year. The mobile membership fee will be phased out from 2015.