As the relevant regulatory authority is currently conducting a survey related to the facilities-based telecommunications business license, we hereby provide to you the following information for your reference:

The Central Radio Management Service ("CRMS") under the Ministry of Science and ICT ("MSICT"), the competent government authority that oversees facilities-based telecommunications service providers ("FSPs"), is conducting a survey on FY 2021 sales and net income based on the Telecommunications Business Act ("TBA").  According to the CRMS, most FSPs have submitted relevant materials in April.  For those FSPs who have not yet submitted materials by the end of May, the CRMS will issue an additional request for the materials, and will assess measures to impose sanctions on FSPs who again fail to submit the requested materials.

Since Article 104 of the TBA stipulates that the failure to submit requested materials may be subject to an administrative fine of up to KRW 10 million, we advise you to ensure that you have completed the submission of the requested materials.

The MSICT conducts surveys on FSPs’ sales and net income in the first half of each year, and also conducts a survey on whether the registration requirements for the facilities-based telecommunications business license (e.g., requirements on the capital amount and technical personnel) are being complied with in the second half of each year.

[Korean version]