South Korea is taking steps to make it easier for businesses to enter the 5G network service sector. On Tuesday, the government announced that it will give an exclusive right to a new operator to use an additional 5G network frequency band in the 28 gigaherz wavelength for three years.
This is intended to provide a boost for local businesses and other companies who wish to take advantage of having access to this technology. In addition to this, the government will also provide financial benefits such as tax cuts and fresh loans in order to further facilitate their entry into the sector.
The move came after two mobile carriers were deprived of their right to use this spectrum last month due to failing requirements of networking building, while SK Telecom Co.’s license duration was also reduced. This decision was likely taken in order to increase competition in the market and help foster innovation in the area.
Today, 33 countries are preparing or allocating 28 GHz spectrum bands and services towards 5G networks, with advanced regions like the US and Japan actively expanding their networks already. South Korea is taking measures that could place them at par with these countries in terms of providing faster communication services and improved access points through its upcoming operator selection process.
The ICT ministry said they plan on starting the process of picking a new 5G communication operator in Q2 this year and hope that businesses can start taking advantage of this new tech sooner rather than later. Companies who succeed in obtaining exclusive rights should avail of their beneficent offer as soon as possible before anyone else does so that they can avoid any delays or stalling activities before getting onto the high-speed network platform.
South Korea’s efforts towards helping businesses enter into the high-speed network service sector could greatly benefit companies that wish to enjoy the advantages of having access to world-leading 5G technology at competitive prices from operators who manage exclusive rights under South Korean jurisdiction.