At the meeting with the CEOs of the three telecom companies, Yoo Young-min, minister of the Ministry of Science and ICT, announced a joint agreement with the three telecom companies to jointly launce 5G mobile services.
Yoo Young-min held a meeting on June 17th with the CEO of KT Hwang Chang-gyu, SK Telecom President Park Jeong-ho, and LG Uplus Vice Chairman Ha Hyun-hwe at the Marriot Park Center in Yeouido to discuss necessary matters for the commercialization of 5G
Minister Yoo said, “Korea will become the world’s first 5G mobile communication commercialization country, and in order to preempt the 5G global market initiative, it is necessary to avoid the first competition between operators and to make ‘Korea 5G Day’. To do this, the three telecom companies have agreed to jointly launch 5G services.”
He further added, “I am grateful for all the cooperation the telecom companies have given to reduce telecom costs, including improvement of necessary equipment systems, implementation of fare reductions for vulnerable people, reduction of roaming charges, reduction of rates to up to 25 percent, and launching of new plans.”
“Through this conference, we will have a look at what the government and the private sector should do in the process of commercializing 5G and also what it means to inspect 5G. In order to increase the ‘predictability of the government’s work, we will share the future policy direction in advance and seek cooperation in a positive direction,” said minister Yoo.
Minister Yoo said that the commercialization of 5G will lead to the development of ICT ecosystem and the 4th industrial revolution as the related industries such as service, equipment, terminal, and contents develop together and its economic effects spread to other fields.
“It is necessary to cooperate and have a win-win cooperation between small and medium-sized enterprises in order to benefit from the preemptive effects of related industries such as 5G commercialization. In the 5G era, we hope that the increase in data consumption will not undermine user rights, including the burden of communication costs for the general public,” added minister Yoo.
