Korean DSL provider Thurnet failles to find a buyer

After being the toast of the broadband world some of South Korea’s broadband providers appear to be having some problems.

Thrunet is currently in receivership, has failed to find a buyer and is in the process of forming a restructuring plan to submitting to the court. If this is rejected by the court, it is possible that it will pass into insolvency.

There are rumours in the market about the cash base of the second-largest provider, Hanaro Telecom as they put deals together with external investors.

The only one that appears to be sitting pretty is the old incumbent telco, KT Crop, who has 95% of the domestic call market and 50% of the DSL.