RoK, telecom firms announce seven year 5G growth plans
THE South Korean government on Wednesday unveiled extensive schemes to expand industries related to the fifth-generation cellular network (5G), with an aim to boost the Korean companies’ global market share in 5G network equipment and smartphones.
The meeting, presided over by Science and ICT Minister Yoo Youngmin (pictured, Yonhap), was attended by chiefs from SK Telecom, KT and LG Uplus, along with mobile division leaders from Samsung Electronics and LG Electronics.
The participants launched the “5G plus strategic committee” to discuss the country’s seven-year growth plan following the launch of the world’s first commercial 5G service in April.
Participants pledged to achieve 20 per cent of market share in the global 5G network equipment market by 2026. As for the 5G smartphone market, they vowed to secure the top spot by reaching 30 per cent of global market share.
“The ‘world’s first t title’ doesn’t carry significance anymore,” ymore,” Yoo said.
“We are in global al spotlight since we launched the 5G commercial service for the first time in the world
. . . But being the first st does not mean being the best. We thus need a comprehensive strategy y between the government and business ness sectors.”
The meeting came ame amid growing attention to the 5G network since its commercial service began in April. While its subscribscribers surpassed one million in
South Korea last month, concerns persist as to how to leverage the technology for industrial growth.
The participants pledged to create 73 billion won ($62.1 million) in exports from 5G-related industry by 2026. To achieve that, they would produce 180 trillion won in industrial output related to 5G business.
The attendants a lso introduced 10 key industries and five crucia l ser v ices. Among them are technologies related to v irtual and augmented rea lit y.
For the plans to work, Kim Tae-yoo, professor from Seoul National University, called for deregulation.
“We need to lift regulations on 5G service industry,” said Kim, who cochairs the 5G strategic committee with ICT Minister Yoo. “Companies are the warriors of the 5G era, so preventing them will be something that goes against the historic wave.”
Among business leaders attending the event are SKT chief Park Jung-ho, KT chief Hwang Chang-gyu and LG Uplus chief Ha Hyun-hoi. Samsung executive Roh Tae-moon from the company’s mobile division also attended the event.