Sejong Telecom is reportedly considering withdrawing from the mobile virtual network operator (MVNO) market.
According to the industry on the 19th, Sejong Telecom decided to transfer the operations of its institutional sector related to mobile virtual network operators and is reviewing its market withdrawal. Since 2012, Sejong Telecom has operated the mobile virtual network brand "Snowman" through its subsidiary Onse Telecom. In 2015, Onse Telecom changed its name to Sejong Telecom after taking over the telecommunications division from its parent company, Sejong Telecom.
However, as the business situation worsened, it is interpreted that the company initiated the cleanup of its less profitable mobile virtual network operator sector. Sejong Telecom's operating loss for the first half of this year was 5.7 billion won, already exceeding last year's total operating loss of 3.1 billion won. The operating loss for the last third quarter was 618.6 million won.
A senior official from Sejong Telecom noted, "As of now, we are reviewing various possibilities, and no corporations have specifically expressed their intention to acquire."