Korek Telecom is facing a massive debt of two trillion dinars (approximately $1.5 billion) in unpaid licensing fees and outstanding financial obligations to Iraq’s Communications and Media Commission (CMC), according to an Iraqi MP. Zahra al-Bajari, head of the parliamentary transport and communications committee, confirmed that Korek must settle its debts, noting that the company had requested to pay in installments, but such an arrangement would require guarantees for the accumulated debt.
Korek’s services have been severely disrupted for over a year in both Iraq and the Kurdistan region due to the CMC’s decision to block the network in November 2023, following non-payment. In February, the CMC escalated the matter by suspending Korek’s internet services, citing continued non-compliance. Prior to the service disruption, the CMC had warned Korek that its operating license had expired and would not be renewed unless the financial obligations were met.
Bajari confirmed the ongoing disconnection between Korek and other telecommunications companies, with the CMC’s recent measures aimed at pressuring Korek to resolve its financial issues and provide the necessary financial guarantees to settle its debts. As the company faces mounting debts and continued service interruptions, it is under growing pressure to address its financial situation.
