South Korean Broadband Miracle Hits Stumbling Block
from the whoops dept
For the past year or so, everywhere you look there are stories about the "broadband miracle" happening in South Korea where cheap, very fast broadband is everywhere. We even had an article on just that topic last week. However, it's looking like things aren't as rosy as some of those reports suggest. It turns out that most of the high speed internet access providers are facing serious financial problems, partly as a result of growing too fast and facing too much competition. Of course, that doesn't mean this is bad for consumers. It sounds like a typical post-bubble shakeout where the high growth phase has stopped, and companies start discovering that they need to focus on different metrics going forward. Plenty of companies don't make it through such cycles - but the end results are often stronger and customers end up with better offerings.
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What about market failure?
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