Consumers to get more support for mobile carrier switches

[Photo by Yonhap]

South Korean consumers who switch mobile carriers when purchasing a new device will be eligible to receive additional support funds of up to 500,000 won ($380), in addition to existing subsidies and incentives, starting from March 14th, 2024.

The introduction of the migration support funds will result in an increase in the size of additional subsidies, which are currently capped at 15 percent of the total subsidy. Like existing subsidies, information regarding migration support funds must be disclosed on the mobile carrier’s website.

The Korea Communications Commission (KCC) convened a full meeting at the government complex in Gwacheon on Wednesday to approve amendments to the regulations under the Mobile Device Distribution Improvement Act. The amendments include establishing the criteria for providing migration support funds when switching mobile carriers and revisions to the detailed standards for disclosing and posting subsidies.

The proposed amendments aim to create conditions that promote competition between mobile carriers prior to the abolition of the act. The amendments will be effective immediately once they are published in the state register on March 14th.