South Korea Wants to Be 5G Leader, Creating $73 Billion in Exports


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According to the ‘Korea Times’ media, on Monday, the South Korean government said that they are doing their best to become the leader of the 5G network. They have already set an ambitious goal – in the relevant industry, to create 600,000 jobs and $73 billion in exports till 2026.

To achieve this goal, the Korean government stated that it will vigorously cultivate an industry and service ecosystem based on five-G networks. The project, called ‘5G+ Strategic Business’, will focus on 10 industries and 5 key services.

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Ten of these industries include next-generation smartphones, networking equipment, information security, virtual reality (VR) and augmented reality (AR) devices, drones, robots, smart CCTV and wearables, and five key services, including immersive content, smart factories, autonomous driving, smart city, and digital healthcare.

For example, in digital medical services, the Korean government will develop a 5G-based emergency medical system by 2021 and plans to apply it to 20% of emergency medical centers nationwide by 2025.

The government said that the 600,000 new jobs will come from the process of cultivating these industrial services and industries based on 5G networks. The Korean government expects that the global market for 5G-related businesses will reach 1,161 trillion won ($0.001 trillion) by 2026.

South Korean President Wen said that 5G will bring new opportunities to South Korea’s industry and economy. He added that through ‘public-private’ cooperation, South Korea will provide comprehensive 5G coverage nationwide by 2022.

By the way, previously, it was reported the South Korean government will postpone the commercialization of the world’s first fifth-generation (5G) mobile network service, and the project launch date is expected to come at a later date. Prior to this, the Ministry of Science, Information and Communication Technology of Korea originally planned to launch the ultra-high-speed telecommunications services at the end of March.

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