Seoul: Nearly 100,000 people have switched their mobile carriers to a different company in just a few days after a controversial handset subsidy ban was lifted last week, industry data showed Monday.
According to Yonhap News Agency, 95,233 mobile number portability (MNP) transfers were recorded from Tuesday to Saturday. The government's ban on excessive handset subsidies, in place since 2014, was officially removed Tuesday, opening the door for mobile carriers to offer larger incentives and benefits to attract subscribers.
On the first day of the change, 35,131 people switched carriers, a sharp increase from 10,703 the previous day. The daily figure then declined to 19,388 on Wednesday, followed by 13,496, 13,142, and 14,076 in subsequent days.
Industry leader SK Telecom Co. saw a net loss of 322 subscribers over the five-day period, while rivals KT Corp. and LG Uplus Corp. gained a net 522 and 70 new MNP members, respectively. SK Telecom has been struggling with a decline in subscriptions following a major data breach in April.
The five-day MNP total remains far higher than the 39,000 transfers recorded during the first five days of April before the incident. Industry insiders said mobile carriers are currently taking a wait-and-see approach amid the policy shift. "The market is very quiet now, but once one of the three players takes an aggressive step, the market situation could change abruptly," an official from one of the telecom companies said.