Why Does South Korea Have Faster Internet for a Cheaper Price Tag?

The average South Korean can choose between three major private internet providers –SKT, KT and LG U+ – and pay less than $30 a month for the fastest internet in the world. That’s $17 less than what the average American pays for a much slower internet hookup. But why? How is it possible that the citizens of the last developed democracy have a faster and more affordable internet than Americans? The simple answer to this question is that in the 1990s South Koreans decided that their country needed a fast and affordable internet provided by a vibrant private sector, and there was the political willingness, and a national plan, to achieve that goal.