South Korean mobile carriers spent an average 5.15 trillion won (US$5.01 billion) every year since 2011 into developing faster mobile networks, raising concerns that excessive competition may erode profit, a report said Monday.
The investment in what is called long-term evolution (LTE) network between 2011 and 2013 is nearly 55 percent more than the yearly 3.33 trillion won the carriers put into the previous 3G network in the 2006-10 period, according to the report by DigiEco, a research arm of KT Corp.