Gov't Collects 9.2 Tril. Won from Spectrum Auctions Since 2001

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Thursday, September 5th, 2013
SEOUL, KOREA- The government has collected a total of 9.2 trillion won from spectrum auctions for 12 years since 2001. Congresswoman Min Byung-joo of the ruling New Frontier Party and a member of the Science, ICT, Future Planning, Broadcasting & Communications Committee said on September 3 based on data submitted by the Ministry of Science, ICT, and Future Planning that the government has earned 5,615.5 billion won through auctions and assignments.
Including the 2,428.9-billion-won income the government has reaped recently from the long-term evolution (LTE) spectrum auction and interest incomes to be collected for the next eight years, the total proceeds from spectrum sales would be 9.2 trillion won. Of this, SK Telecom has paid most with 2,621.1 billion won, followed by KT's 2,105.3 billion won and LG U+'s 883.7 billion won.
The profits will be split into the info-tech fund and broadcasting and telecommunications development fund on a 55:45 basis. The money will be used for research and development, human resource development, standardization, and infrastructure projects. Congresswoman Min said, "The spectrum payments by telecom service providers must not pass on to consumers in the form of higher bills."
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