South Korea's finance minister, Hong Nam-yi, officially confirmed that the Asian country will start offering 5G cell phone services in March, what will the first in the world to commercially offer this technology for mobile phones.
The South Korean minister made the announcement during a meeting with its main portfolio managers in Seoul, according to the Yonhap news agency.
It is estimated that the wireless data transmission speed which allow all 5G technologies to be up to 50 times faster than those provided by current 4G and LTE and its implementation is expected to multiply future services for users and business opportunities for companies.
Hong said at a Friday meeting that the three major telecoms companies are planning to make a $ 3 trillion joint venture (about $ 2,355 million / $ 2,670 million) this year to fully implement 5G in Korea. South
In South Korea, the principal of these entities, KT, has already carried out the first test of 5G services in a limited area during the the Winter Olympics held last February in the South Korean PyeongChang region.
In addition to KT, the other two major mobile operators in the country, SK Telecom and LG Uplus, will begin offering the 5G service next month and will release the first terminals that can use this technology.
Analysts expect the new high-tech smartphone from South Korea's Samsung today's global presentation in San Francisco (USA), the Galaxy S10, is the first phone to operate on the 5G network.
Similarly, Chinese giant Huawei has announced it will present its first mobile phone for the 5G Mobile World Congress to be held next week in Barcelona.