South Korea aims to create around 1,800 companies that specialize in new 5G services within the next five years, local news agency Yonhap reported.
According to the report, the government expects the creation of these new firms will boost the adoption of promising and innovative technologies powered by 5G.
South Korea’s ICT ministry also said it wants to boost the number of companies that research and develop new 5G services, because there are only 94 firms in the country currently developing 5G-based services.
The government’s initiative aims to support the rollout of services that incorporate 5G technologies, including online classes that incorporate virtual reality and augmented reality technology.
With the increase in local firms that develop 5G technology, the ministry has targets to apply 5G services in 3,200 locations by 2026, compared to the current 195. South Korea’s Ministry of Science and ICT has also said it aims to establish a city that integrates 5G services from 2023 onward.
South Korea ended June with a total of 16.47 million 5G subscribers, according to the latest available data from the Ministry of Science and ICT.
5G subscribers at the end of June represented 23% of the total 71.63 million mobile subscriptions in South Korea.
The country’s largest carrier, SK Telecom, ended June with a total of 7.7 million subscribers in the 5G segment, followed by KT with 5 million and LG Uplus with 3.7 million.
South Korean telecom operators currently provide 5G services via NonStandalone 5G networks, which depend on previous 4G LTE networks. The country’s three operators launched 5G technology in April 2019, and 5G networks are available mostly in large cities.
In July, South Korea’s Ministry of Science and ICT announced it will award 28 GHz and sub-6 GHz spectrum in November to boost the use of 5G-related services across the country.
The frequencies will be available for mobile operators and for companies operating in different verticals. The Korean government announced it will make available a total of 600 megahertz in the 28 GHz band and 100 megahertz in the 4.7 GHz band.
The 28 GHz band will be divided into 12 blocks and the 4.7 GHz band into 10 blocks, respectively. The spectrum in the 4.7 GHz band will be offered to non-telecom companies, according to the report.
The ministry said that the allocation of these new frequencies will allow companies to operate 5G networks across various industries and offer new service such as smart factories, healthcare, robotics and smart farms.
Interested firms will have until the end of September to apply for the new 5G spectrum. The length of the licenses ranges from two to five years. The Korean government also said that the 5G spectrum is expected to be allocated by the end of November.
