LG Uplus raises public subsidy for S24 Galaxy series

[Photo by Yonhap]

LG Uplus Corp, one of South Korea’s top three mobile carriers, will raise its publicly announced subsidy for Samsung’s Galaxy S24 series by up to 450,000 won ($339) in response to government policy pressure.

According to sources familiar with the tech industry on Friday, LG Uplus priced its subsidy from 120,000 won to 450,000 won per device, which can vary depending on phone plans.

It was an increase in a range of 68,000 won to 246,000 won from the previous announcement on January 26th, 2024, and the sources said the move was part of the government’s top-down approach to device pricing.

The Korea Communications Commission, a Korean media regulation agency, invited executives from the three major mobile carriers and Samsung Electronics Co. to discuss issues, including lower plan prices, in January. At the meeting, the agency called for raises in public subsidies for smartphones, including the Galaxy S24 series, sources said. They added that other mobile carriers are likely to follow suit within the next few days.