S. Korea to encourage creation of 1,800 5G service firms by 2026

https://en.yna.co.kr/view/AEN20210818003000320?section=business/it

South Korea will encourage the creation of around 1,800 companies specializing in 5G services in the next five years to boost the adoption of promising technologies.

The ICT ministry also aims to boost the number of 5G research and development firms from the current 94 to gain a competitive network technology edge.

Companies have yet to fully harness the blazing fast 5G networks powering upcoming tech services, such as self-driving vehicles, remote-controlled factories, and 3D holograms.

The ICT ministry will also support the rollout of services incorporating 5G, including online classes that utilize virtual reality and augmented reality and a metaverse-based online marketplace for small businesses.

The increase in companies developing the network technology will enable the ministry to apply 5G services in 3,200 locations by 2026 from the current 195.

The ministry also outlined goals to establishing a 5G services-integrating city.

South Korea had 16.5 million 5G users as of end-June, accounting for 23 percent of its total mobile network subscriptions.