Telco won spectrum with bid of 995 billion won; KT Corp picks up 800 MHz license.

SK Telecom Co has been awarded a license to operate services using the 1.8 GHz spectrum in South Korea after placing a bid of KRW995 billion in an auction for the bandwidth.

SK, South Korea\'s largest mobile operator by revenue, outbid hometown rival KT Corp., which said separately it acquired a license for the 800 megahertz spectrum For KRW261 billion. KT already has a license to operate using 1.8 GHz bandwidth.

Offering services over high-speed networks is seen as a key development for South Korea\'s cell phone operators.

SK Telecom and KT both bid for the 1.8 GHz spectrum, which was being auctioned by the Korea Communications Commission telecommunication regulator. SK Telecom was finally chosen after bidding KRW995 billion, more than double the initial bid price of KRW445.5 billion, the regulator said in a statement.

Last week, LG Uplus Corp., the country\'s smallest mobile operator, acquired a 2.1 GHz band license.