5G Subscribers Surpass 16 Million... Growth Slows Amid Popularity of Altteul Phones

Ministry of Science and ICT Announces 'June Wireless Communication Service Subscriber Statistics'

[Image source=AP Yonhap News]

[Asia Economy Reporter Eunmo Koo] As of June this year, the number of 5G mobile communication subscribers exceeded 16 million. However, the growth rate of 5G subscribers seems to have relatively slowed down as the increase in cost-effective MVNO (Mobile Virtual Network Operator) subscribers gains momentum.

According to the wireless communication service subscriber statistics released by the Ministry of Science and ICT on the 5th, the number of 5G subscribers as of June was 16,465,468, an increase of 623,990 (3.9%) compared to May (15,841,478). The proportion of 5G subscribers among the total mobile communication subscribers (71,626,069) was 23.0%, up 0.7 percentage points from 22.3% in May.

By telecom operator, the number of 5G subscribers was SK Telecom with 7,695,679, KT with 5,011,558, and LG Uplus with 3,722,028. The number of 5G subscribers through MVNOs was 36,203.

The number of 5G subscribers increased by around 800,000 in February (792,118) and March (813,970), but the increase sharply declined to 671,266 in April, and continued with around 600,000 increases for three consecutive months through May (694,194) and June.

The slowdown in the growth of 5G subscribers is interpreted as a result of MVNO operators competing to offer large data plans emphasizing cost-effectiveness in line with the Ministry of Science and ICT’s MVNO promotion policies. In particular, combinations of unlocked phones with MVNO plans are gaining popularity among the MZ generation (Millennials + Generation Z), who prioritize rational consumption, leading to an increase in consumers.

The number of MVNO subscribers reached 9,724,790 as of the end of June. This is an increase of 144,348 compared to May and a remarkable increase of 2,385,626 compared to a year ago. During this period, the proportion of MVNO subscribers among all wireless communication service subscribers expanded from 10.5% to 13.6%. At the current trend, surpassing 10 million subscribers within the year is expected.

This content was produced with the assistance of AI translation services.