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The Sales Volatility of Wireless Services for the Three Major Telecom Companies Has Increased Significantly
ZD Net Korea | Local Language | News | Nov. 10, 2025 | UndeterminedOperating Results
Sales volatility in the wireless services sector for South Korea’s three major telecom companies—SK Telecom, KT, and LG Uplus—has significantly increased, driven primarily by subscriber movement following SK Telecom’s data breach in the first half of 2025. This volatility was accentuated by compensation and the waiver of termination fees, marking a standout feature in the telecom industry’s third-quarter financial results, which were otherwise impacted by one-off costs related to the hacking incident, voluntary retirement programs, and real estate gains.
SK Telecom experienced a sharp decline in third-quarter wireless service revenue, dropping 20.5% year-on-year to 2.124 trillion won and 19.0% quarter-on-quarter, largely due to its 50% fee reduction implemented in August. Conversely, KT and LG Uplus saw revenue increases, with KT growing 4.7% year-on-year to 1.7336 trillion won and LG Uplus rising 5.2% to 1.6272 trillion won. Both companies also posted quarterly wireless revenue growth rates typically seen on an annual basis, increasing by 1.7% and 2.6%, respectively.
This shift is attributed to competitors aggressively recruiting SK Telecom subscribers following the government’s administrative ban on SK Telecom’s new wireless subscriber recruitment since May and the termination fee waiver starting in July. The migration disrupted the usual revenue gains driven by LTE users upgrading to 5G, triggering larger-scale subscriber movements in an otherwise saturated market.
Looking ahead, similar market fluctuations may recur as data breaches affect all three telecoms. The government’s interim investigation into KT’s cybersecurity failures and potential further termination fee waivers could intensify subscriber churn. Industry sources indicate that without aggressive marketing restrictions and with the recent abolition of the DanTong law, subscriber volatility could surpass previous levels if such regulatory measures are implemented.