South Korean firms to invest $9 bn in 5G technology in 2018

Today, mobile technology not only facilitates communication but it has become an integral part of our lives. Besides, mobile devices today are used as a medium for content consumption apart from communication.

Moreover, we already saw the impact of 4G with the introduction of Jio in the telecom space. But again it looks like the scenario is soon going to change with the much-hyped 5G technology. While many are talking about 5G technologies it will not just be an upgrade over 4G but in fact, promises much more.

Some of the widely supported goals of 5G are over 1000 times increased data volume, five times reduced latency, up to 100 times faster data transfer speed, up to 100 times more connected devices, and 100 percent connectivity.

Thus in a bid to lay a firm foundation for high-end service, South Korean mobile carriers are likely to invest more than $9.36 billion in the fifth-generation network technology in 2018, industry sources have said on Monday.

The Ministry of Science and ICT and three mobile carries -- SK Telecom Co, KT Corp, and LG Uplus Inc -- have plans to start commercial operations of the 5G network in 2019 and build nationwide infrastructure by 2020, Yonhap news agency reported.

The companies will make an investment in the coming three or four years to run faster and more stable data processing than the current 4G network, or long-term evolution (LTE).

Their investment into the previous LTE network technology was $5.6 billion in 2010, a year before the official commercialization and peaked at $7.49 billion in 2012, while investment in this field has been hovering around $4.68 billion per year since 2015.

Market insiders noted that the initial costs of launching a super-high-speed network service are estimated to reach nearly $18.74 billion in 2018, with the first commercial operation just one year away. The amount can be reduced to some extent on money-saving technologies.

Well, in 2018 we will be seeing a more rapid maturing of the mobile communications technology that will power tomorrow's digital economy.