Minister Im Hye-sook Emphasizes "Investment Expansion and 5G Frequency Allocation Cooperation" to CEOs of the Three Major Telecom Companies

Minister of Science and ICT Hye-sook Lim is delivering a greeting at the CEO meeting of the three major telecommunications companies held on the 17th at Post Tower in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Lim Hye-sun] On the morning of the 17th, Lim Hye-sook, Minister of Science and ICT (hereinafter referred to as the Ministry of Science and ICT), held a meeting with the CEOs of the three major telecommunications companies, including Yoo Young-sang, Vice Chairman of SK Telecom, Koo Hyun-mo, CEO of KT, and Hwang Hyun-sik, CEO of LG Uplus, at Seoul Central Post Office to discuss cooperation plans such as expanding investments to enhance 5G consumer benefits, building a shared network in rural and fishing villages, and frequency supply.

In her opening remarks, Minister Lim expressed gratitude to the telecommunications companies for their cooperation in achieving tangible results that the public can feel, such as the launch of the rural and fishing village 5th generation (5G) shared network construction last year and the pilot service of subway Wi-Fi using 5G 28 GHz. She emphasized the need to strengthen cooperation in expanding investments and utilizing frequencies to provide service benefits that meet the public’s expectations.

Minister Lim also pointed out that while the telecommunications companies’ operating profits have increased, their investments have rather decreased, urging more active investment expansion. She requested active investment in small and medium-sized cities, rural and fishing villages, and vulnerable areas to achieve balanced improvement in public service quality.

Furthermore, following the pilot commercialization of rural and fishing village 5G shared usage in November last year, she stressed the need for proactive efforts to complete the early construction of the rural and fishing village 5G shared network, urging the companies to steadily promote plans to advance the overall construction areas and quantities discussed at the previous CEO meeting.

In response, the representatives of the three telecommunications companies agreed to invest at least the same level as last year to rapidly improve the quality of 5G and other telecommunication services this year. Minister Lim and the CEOs of the three companies exchanged opinions and held in-depth discussions on the direction and schedule of 5G frequency allocation.

Minister Lim evaluated the meeting as “a meaningful occasion for the government and the three telecommunications companies to listen to and discuss various opinions to enhance consumer benefits,” and stated, “I hope that the public and private sectors will continue to actively communicate to resolve current issues and develop policies that resonate with the public.”

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