SEOUL, April 25 (Korea Bizwire) – The government has approved bids by all three major mobile operators here to secure new bandwidths for faster and broader data services, according to a ministry in charge of the issue Monday.
The big-three firms — SK Telecom Co., KT Corp. and LG Uplus Corp. — are in a competition for five blocks in the 700 MHz, 1.8 GHz, 2.1 GHz and 2.6 GHz bands. In total there is 140 MHz of spectrum up for grabs, estimated to be worth at least 2.5 trillion won (US$2.2 billion).
The Ministry of Science, ICT and Future Planning has completed a review of their applications.
The ministry informed the three companies that all of their applications are “qualified,” with the auction scheduled to start on Friday at the Telecommunications Technology Association based in Seongnam, just south of Seoul.
The frequency auction is drawing keen attention in the industry, as a broader spectrum is required to speed up existing services and expand infrastructure for new ones to accommodate ever-growing amounts of data traffic.