SEOUL, Dec. 29 (Korea Bizwire) – The Ministry of Science and ICT has revealed a comprehensive plan to build a hyper-connected smart network including the sale of 5G frequency bands and faster Wi-Fi speeds on the subway.
The science ministry announced during a meeting with a Fourth Industrial Revolution committee that 5G frequency bands will be auctioned in June of next year, while plans to utilize basic infrastructure will also go forward in order to effectively install the new high-speed networks.
Under the new infrastructure plan, the wireless internet speeds on the subway could be 100 times faster than now by 2020, thanks to 23GHz high-speed wireless backhaul, while the government will supply other frequencies to detect sink holes and operate self-driving trains.
According to government plans, the commercialization of 5G networks will take place in March 2019, while the nationwide network is expected to be built by 2022.
In line with the schedule, the Ministry of Science and ICT has moved up the date for the auction of 3.5GHz and 28GHz 5G frequencies by one year, while setting new requirements to prevent auction prices from rising too high.
In addition, infrastructure projects will take place during the first half of next year, in an effort to eliminate financial burdens and attract investors.
To help encourage the use of the Internet of Things, a number of current regulations will be lifted or eased.
Previously, businesses offering IoT-related products with their own brand name were required to own 3 billion won in paid-in capital to be registered as ‘special category telecom operators’.
However, the science ministry is set to submit a proposal at the National Assembly doing away with the requirement sometime in the first half of next year.
Plans were also revealed to close the internet speed gap between cities and rural areas by categorizing high speed internet as a ‘universal service’, which could help stop telecom companies from refusing to install high-speed internet based on technical difficulties.
The Ministry of Science and ICT estimates nearly 29.6 trillion won worth of economic value and almost 12,000 new jobs could be generated over the next five years thanks to the advance of networks and wider use of IoT.
Ashley Song (email@example.com)