Past efforts to introduce new competitors to the Korean market have failed, but the latest attempt is different, since it is backed by China Mobile. The world’s largest operator has joined a consortium which wants to create a fourth player in the world’s most advanced mobile market. The Chinese giant is investing an initial sum of KRW320bn ($283m) to secure more than 40% of the KT Net group, which is bidding for a licence to compete with the well-established incumbents – SK Telecom, KT and LG U+. These have seen little change in their market shares – roughly 50%, 30% and 20% respectively – for more than a decade. The government has wanted to open the door to a fourth…