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South Korean Telecommunications Market Embarks on a New Era with AI Integration, MVNO Expansion, and 6G Development
NEWS PROVIDED BY
Idem Est Research & Advisory
10 October 2023, 16:00 AEST
South Korea Telecom Industry Market Report forecasts 120m mobile and fixed broadband subscribers by 2030
FOR IMMEDIATE RELEASE
South Korean Telecommunications Market Embarks on a New Era with AI Integration, MVNO Expansion, and 6G Development
Key Highlights from the South Korea Telecoms Industry Report:
Significant Investments and Innovations Mark the Future of Connectivity in South Korea
The South Korean telecommunications market, a perennial leader in the global telecom sector, is launching ground-breaking developments that will profoundly reshape the communication landscape in the country: integration of Artificial Intelligence (AI), expansion of Mobile Virtual Network Operators (MVNOs), and the pioneering development of 6G technology supported by the K-Network 2030 initiative.
AI: The New Frontier in Connectivity
With a commitment to driving innovation and enhancing user experience, South Korea’s telecom giants are aggressively integrating AI into their networks and services. SK Telecom, KT, LG Uplus are investing heavily with; USD100 million for Anthropic by SK Telecom; KT investing in Upstage and Qanda, two local AI start-ups and; LG Uplus investing USD67 million in AI and other startups as well since 2022.
MVNOs: Bridging Gaps, Expanding Access
The expansion of MVNOs in the market is another milestone with 14m subscribers by June 2023, providing consumers with a wider range of choices, competitive pricing, and specialized services. Snowman, Toss Mobile, LiivM, Eyes Mobile, among others, are offering affordable and flexible plans that are particularly attractive to niche markets and price-sensitive consumers. The regulatory support and favourable policies have catalysed the growth of MVNOs, further democratizing access to mobile services and contributing to the vibrancy and diversity of the telecom market.
6G: Navigating the Future of Telecommunications
South Korea is not just stopping at 5G with 40% of mobile subscribers now using 5G. With an eye firmly fixed on the future, the country is making significant strides in the development of 6G technology. The government announced the K-Network 2030 strategy aiming to double its optical communication speed by 2026 and quadrupling it by 2030. The government is also promoting artificial intelligence (AI) R&D with purposed designed AI chips and energy efficiency solutions.
Conclusion: A Future-Ready Telecommunications Landscape
These innovative undertakings in AI, MVNOs, and 6G collectively signify South Korea’s unwavering commitment to leading the world in telecommunications technology. With a vision that is future-ready, inclusive, and ground-breaking, the South Korean telecommunications market is set to offer unparalleled connectivity solutions that meet the dynamic needs of consumers and industries alike, marking a new chapter in the nation’s illustrious history of technological leadership.
“Idem Est Research forecasts that mobile subscribers will reach 94 million by 2030, while the fixed broadband market will continue to increase fibre penetration into more households, with over 88% of households using fibre infrastructure. The telecommunications industry is expected to maintain revenue growth momentum, with an average growth rate of 1.5% from 2023 to 2030,” says Landry Fevre, Director of Idem Est Research & Advisory.
Idem Est Research and Advisory’s report on the South Korea telecom market serves as a valuable resource for industry stakeholders, investors, and policymakers looking to gain a comprehensive understanding of the sector. The analysis highlights the immense potential and opportunities for both local and international players to contribute to the development and innovation of the telecom industry in South Korea.
KEY COMPANIES MENTIONED IN THIS AUSTRALIA TELECOMS INDUSTRY REPORT:
CMB, D’Live, Dreamline, Hyundai CNS, KT, LG Uplus, SK Telecom
Download the full report: https://idemest.com/reports/south-korea-telecoms-report-mobile-broadband-market-industry-analysis/
About Idem Est Research Advisory
Idem Est Research and Advisory is a boutique telecommunications and digital infrastructure market research and advisory. Idem Est Research provides leading telecoms research helping our clients stay updated on the latest telecoms sector and digital infrastructure developments. The reports provide analyses of mobile and broadband markets, capital expenditure, forecasts, key telecom trends and thematic such as 5G and telecoms digital infrastructure, as well as other statistics of the telco industry.
Our independent approach allows us to place the trends and drivers fully into context and analyse the industry from different, unbiased perspectives. Alongside the facts and figures, Idem Est Research draws on three decades of experience to provide incisive commentary and analysis. This brings visibility to the business drivers, challenges, decision-making and future direction of the telecoms sector.
To learn more, visit www.idemest.com.
This release was published on openPR.