KTF handset insurance is becoming popular
Publication : Yonhap News (Online)
27 May 2004
As KTF Good Time Handset Insurance service just launched end of last year, figures and statistics show a rapid increase in subscribers for this insurance. Costing 4000 won per month, up to 337,500 won is compensated maximum when replaced. It is seen that the insurance is becoming popular because as high-end and multi gadget handsets are becoming the norm, when lost or misplaced, great economic losses occur to the individual. Handset insurance is quite common in abroad, and it forecasted to be common domestically as well.
Publication : Financial News
28 May 2004
Up to 337,500 won maximum when lost. As KTF Good Time Handset Insurance service was first launched after last October, 56,000 people per month have been subscribing to it, which is a total of approximately 340,000 people. This service is provided by only KTF amongst the telecommunication companies. Costs are 4000 won per month and when lost, the same type of handset can be replaced with and up to 337,500 won max can be compensated for. A KTF related person said "15% of telecommunication subscribers lose their phone per year, and due to owning high-end handsets in the 500,000 to 600,000 won range many undergo economic losses when lost, which is why they subscribe to insurance." "Handsets exceeding the 600,000 won range are becoming increasingly launched as functions such as MP3, camcorder and 2 million pixel digital cameras are being added." Handset insurance is quite common abroad, and is expected to become increasingly common domestically as well.
Publication : a.m. 7 (subsidiary of Munhwa Ilbo)
01 June 2004
After KTF launched its Good Time Handset Insurance from last year October, there are over 340,000 subscribers as of late April. An insurance fee of 4000 won per month will cover up to 75% of the handset price, covering up to 337,500 won maximum. Overall handset lost rate is about 15% in Korea. According to average consumption pattern, free insurance is supported up to 1 to 3 months.