SK Telecom has outbid rival Korea Telecom to win the “golden” spectrum 1.8 gigahertz band for fourth generation mobile communications.

The Korea Communications Commission said on the ninth day of the auction Monday, KT dropped out and SK secured the band at the cost of 995 billion won or some 920 million dollars.

SK will use the band for its super-fast wireless service using 4G mobile technology.

The winning bid is more than double the initial bidding price of 445 billion won.

KT instead purchased the 800 megahertz band for 261 billion won.