Seven-year 5G Development Plan Initiated by South Korea Aiming to 20% of Global Equipment Market Share in 2026.
The South Korean government announced this July its extensive plans for industries on the 5G network. The aim is to increase the share of South Korean companies in the global market for 5G network devices and smartphones. The ambitious move was initiated by the Korean Ministry of Science and ICT and engaged with three Korean telecom operators, SK Telecom, Korea Telecom and LG Uplus, as well as Samsung Electronics and LG Electronics.
The participants pledged to have a 20 per cent market share of the global 5G network equipment market by 2026, and also strived to reach 30 per cent of the global 5G smartphone market by 2026. The participating enterprises pledged to create 73 billion won (US $62.1 million) in exports from 5G related industries by 2026.
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