According to a report on Engadget, south Korea's Ministry of Information and Communication is set to revoke LG Telecom's 3G license. According to the original license terms set in place when LG Telecom bought the 2Ghz band license in 2001, any 3G service had to be in place by the end of last month, something which has not happened.
At a press conference early this month, (LG CEO) Nam (Yong) officially announced LG Telecom was unable to abide by the pledge for some reason. Instead, he promised to upgrade its current 1.8GHz network.'We opted not to invest in the 2GHz bandwidth for the time being, considering the technological trends in the global wireless market,' Nam said at the time.
According to South Korea's regulations, the CEO of a 3G negligent company must step down, although it's likely that Mr Nam will move to parent company LG Electronics, or remain with LG Telecom in the honorary Vice Chairman position.
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