'Altteul Phone Square' to Open in Seodaemun, Seoul in October

[Asia Economy Reporter Seol Gina Jo] In October, a 'Alteul Phone Flagship Store' where customers can browse exclusive Alteul Phone devices and complete activation procedures at a glance will open near Seodaemun, Jung-gu, Seoul. This is to create a kind of promotional zone based on the judgment that Alteul Phones, which compete with affordable prices, have not yet been properly recognized by the public.

According to the related industry on the 30th, Alteul Phone operators will open the 'Alteul Phone Square (tentative name)' in Seodaemun this October, serving as an Alteul Phone flagship store under the leadership of KB Kookmin Bank. A government official explained, "This is not immediately aimed at increasing subscribers but rather to enhance the status of Alteul Phones," adding, "It will serve as a promotional zone." The related content will be included in the Ministry of Science and ICT's Alteul Phone activation policy to be announced soon.

The space where Alteul Phone Square will be located was originally a KB Kookmin Bank branch. Although it is a 1 to 3-story building, the plan is to use the first floor and part of the second floor. It is expected to serve not only as an agency handling Alteul Phone-related tasks such as purchasing and activating USIM chips but also as a space where various exclusive devices and plans can be explored. Staff hired by the Korea Mobile Virtual Network Operators Association will work on-site.

With the continued release of mid- to low-priced products by the three major carriers, the Alteul Phone subscriber market share, which was in the 12% range just a year ago, is now facing the risk of falling below 10%. According to the Ministry of Science and ICT, as of May, the number of Alteul Phone subscribers decreased by 118,406 from the previous month to 7,349,261, marking an 11-month consecutive decline. The share of total subscribers was only 10.58%. The number of 5G Alteul Phone subscribers is only 1,304.

The industry expects Alteul Phone Square to help revitalize the Alteul Phone market. An association official said, "It will be a promotional space where consumers can easily visit and have a cup of tea," adding, "Through this, consumers will be able to become more familiar with Alteul Phones."

This content was produced with the assistance of AI translation services.