5G 28GHz Frequency Auction Two-Way Battle... Sejong Telecom Withdraws Midway

On the 25th, when the frequency auction for selecting the 4th mobile carrier began, Han Yoon-je, Strategy Director of StageX, one of the three corporations participating in the auction, is answering reporters' questions at the IT Venture Tower in Songpa-gu, Seoul. Photo by Jo Yong-jun jun21@

On the first day of the 5G 28GHz band frequency auction to determine the fourth mobile carrier, Sejong Telecom declared its withdrawal among the bidders.

The Ministry of Science and ICT announced that the frequency auction procedure held at the IT Venture Tower in Songpa-gu, Seoul, started at 9:30 a.m. and ended at 5 p.m. on the same day.

The first phase multi-round ascending bid proceeded up to the 6th round on that day, and Sejong Telecom withdrew from the auction midway.

The highest bid amount on the day was 75.7 billion KRW, and the second day of the auction is scheduled to resume tomorrow (the 26th) at 9 a.m.

On the 25th, when the frequency auction for selecting the 4th mobile carrier began, Yoon Ho-sang, CEO of MyMobile, one of the three corporations participating in the auction, is answering reporters' questions at the IT Venture Tower in Songpa-gu, Seoul. Photo by Jo Yong-jun jun21@

StageX and MyMobile, which applied for frequency allocation, will determine the winner through a maximum of 50 rounds of ascending bids.

The rounds will continue until one party withdraws, but if multiple candidates remain after all 50 rounds, the final winner will be decided by sealed bidding.

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