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South Korea's mobile network operators (MNOs) have agreed to make significant investments
in the development of the country's 5G infrastructure, according to the Korea Times.
At a meeting with Minister of Science and ICT Choi Ki-young earlier this week, the CEOs of SK Telecom, KT Corp and LG Uplus agreed to invest a combined 25.
7 trillion won ($2.
1 billion) by 2022 in the hope of deploying 5G networks
nationwide.
Regarding the details of the investment plan, the report notes that businesses will initially focus on improving the quality of 5G in the capital Seoul and six other metropolitan areas before expanding coverage
.
The announcement of the investment plans comes days after the South Korean government announced its "K-New Deal," which will invest 160 trillion won by 2025 to create 1.
9 million jobs
in the digital and green sectors.
One of the core pillars of the initiative is the Digital New Deal, which aims to leverage 5G infrastructure for digital transformation
.
To support the investments the country's MNOs are making in their 5G infrastructure, it is understood that the government has committed to tax support in the form of tax credits and other tax breaks, although the specifics of this support have not yet been revealed
.
South Korea's mobile network operators (MNOs) have agreed to make significant investments
in the development of the country's 5G infrastructure, according to the Korea Times.
At a meeting with Minister of Science and ICT Choi Ki-young earlier this week, the CEOs of SK Telecom, KT Corp and LG Uplus agreed to invest a combined 25.
7 trillion won ($2.
1 billion) by 2022 in the hope of deploying 5G networks
nationwide.
Regarding the details of the investment plan, the report notes that businesses will initially focus on improving the quality of 5G in the capital Seoul and six other metropolitan areas before expanding coverage
.
The announcement of the investment plans comes days after the South Korean government announced its "K-New Deal," which will invest 160 trillion won by 2025 to create 1.
9 million jobs
in the digital and green sectors.
One of the core pillars of the initiative is the Digital New Deal, which aims to leverage 5G infrastructure for digital transformation
.
To support the investments the country's MNOs are making in their 5G infrastructure, it is understood that the government has committed to tax support in the form of tax credits and other tax breaks, although the specifics of this support have not yet been revealed
.
