Arab Today, arab today south korea to slap fine on kt over satellite sales to hong kong
Last Updated : GMT 14:56:06
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South Korea to slap fine on KT over satellite sales to Hong Kong

Arab Today, arab today

Arab Today, arab today South Korea to slap fine on KT over satellite sales to Hong Kong

Seoul - Yonhap

South Korea plans to slap a fine of 750 million won (US$699,301) on KT Corp., South Korea's No. 2 mobile operator, for selling its retired communication satellites to a foreign company without informing the government, an official said Tuesday. KT is accused of selling satellites Mugungwha 2 and 3 to Asia Broadcast Satellite, a Hong Kong-based satellite operator, for a combined 4.5 billion won in 2010 and 2011, respectively, without informing the government about the sell-off.

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