The government has announced that it will cancel LG Telecom’s business license for a new third generation (3G) mobile service, better known as IMT-2000.

Minister of Information and Technology Roh Jun-hyong made the announcement during a news briefing in Seoul Wednesday.

He added that LG Telecom's chief executive Nam Yong will inevitably face resignation based on local telecom-related laws. Roh cited that the firm failed to meet a government-imposed deadline to implement the synchronous CDMA wireless service based on the 2-GHz bandwidth by the end of June.

The nation’s third-largest mobile operator had earlier expressed its intention to abandon the 3G business license, citing lack of business viability.

IMT-2000 is a global standard for 3G wireless communications that provides a framework for worldwide wireless access by linking the diverse systems of terrestrial and satellite based networks.

SK Telecom and KTF have recently launched commercial services of the asynchronous mode IMT-2000.