SKT president feels crisis over large-scale exodus... If penalty fee is waived, 7 trillion won loss in 3 years = Korea

Yoo Young-sang, president of South Korean telecommunications giant SK Telecom (SKT), announced on the 8th that the company's USIM (a chip-type IC card that records subscriber contract information such as phone numbers) had been hacked.
In relation to this issue, if the company were to waive the penalty for switching to another company, it is believed that up to 5 million customers could leave, resulting in losses of 7 trillion won (approximately 6.64 billion yen) over three years.
In documents submitted to the National Assembly, SKT's top executive, who had complained about the negative impact of the exemption from penalty fees on business, said this was the first time that he had publicly mentioned the specific scale of customer defections and the amount of losses.
At a hearing held in the National Assembly, when asked about the delay in deciding on the exemption of the penalty, President Yoo emphasized, "Considering the sales for the next three years, we expect losses of more than 7 trillion won."
In response to a question about the scale of customer loss, he pointed out that "if the cancellation fee is waived, at least 10% of all customers, up to 5 million people, may switch to other companies."
"The average penalty per person will exceed 100,000 won at the very least," he said, predicting that if up to 5 million people were to leave, the penalty burden could reach 500 billion won.
Meanwhile, President Yanagi also announced plans to set up a committee to regain customer trust, stating, "The committee will discuss measures to regain the trust of all customers, including penalty fees."