SEOUL, Sep. 23, 2009 (Xinhua News Agency) -- South Korea's telecom regulator said Wednesday it reached an agreement to allow the local sale of iPhones, opening the domestic handset market to Apple Inc. (NASDAQ:AAPL)

According to the Korea Communications Committee, its officials, during the standing committee's meeting, made the final decision to approve the local sale of the iPhone and the launch of its service within the limits of the law.

Meanwhile, KT Corp. (NYSE:KTC) , the nation's No. 2 mobile provider, has been seeking an exclusive right to sell Apple's worldwide-hit iPhone in the local market.

South Korean law, however, stood in the way of Apple and KT's moves as it does not permit smartphones with location-base services (LBS), such as "Google Map" and "Find my iPhone."

KT earlier said the sale of iPhones would kick off in the country next month.