SEOUL, June 19 (Yonhap) -- Eyesvision Co., a new entrant to the South Korean mobile phone market, said Sunday that it plans to launch prepaid wireless service through a leased network in the country next month.

Eyesvision, which sells prepaid cards for international phone calls, said that it has agreed with SK Telecom Co. to lease the top mobile carrier's network and to roll out prepaid mobile phone service in July.

The company said its mobile service rates will be about 20 percent cheaper than those of the existing services currently available from market leader SK Telecom or its smaller rivals KT Corp. and LG Uplus Corp.

Eyesvision, one of the country's so-called mobile virtual network operators (MVNO) that lease networks from existing wireless carriers, said it plans to lure expatriates, tourists and other consumers with little need for voice calls.

At least four new players in South Korea's mobile industry are expected to launch wireless services in July by leasing networks from the existing mobile operators, the chairman of the Korea Communications Commission (KCC), South Korea's telecom regulator, said earlier this month.

The three mobile operators are expected to come under bigger pressure to slash their rates once MVNOs roll out new services.

Coming under growing pressure from the government and public for the burden that rising smartphone prices present to households, SK Telecom agreed to cut its mobile tariff earlier this month.

The second-largest mobile carrier, KT, and the smallest operator, LG Uplus, are expected to follow suit, a KCC official told reporters.