Korea, Republic of

Korea, Republic of

Passes amended Telecommunications Business Act

02 Jul 2013

On 13 August 2013, an amendment to the Telecommunications Business Act came into effect. The change allows foreign investors from countries with which Korea has an FTA – in particular EU member states and the United States – to indirectly own up to 100% of Korean facility-based telecommunication businesses with the exception of KT and SK Telecom.