Seoul – SK Telecom, KTF Co. and LG Telecom have agreed to cap marketing spending at 20 percent of their annual sales from next year in a bid to curb excessive competition. The three mobile phone operators have been increasing promotional spending in the past few years to increase customer bases in the local market. The agreement came after Choi Si-joong, chairman of the Korea Communications Commission met heads of the telecom companies and other IT companies. The new guidelines for marketing wireless and fixed-line services will be implemented from next year. For the year, the country’s telecom companies will cap promotional spending at 22 percent of their revenue in a bid to help boost sales of smartphones. The telecom companies will publicize their own spending on marketing every quarter, they said.
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