South Korea`s three mobile carriers agreed on Tuesday to work together for the commercialization of high-end fifth-generation (5G) networks for successful debut in next March for the first time in the world.

The agreement was made during a meeting between Science and ICT Minister Yoo Young-min and the three chiefs from SK Telecom, KT Corp. and LG Uplus.

The meeting was held to share government policy after the three mobile carriers pledged a total of $3.26 billion at the country`s first auction for 5G network frequencies last month.

The three telecom operators agreed to build a full-fledged commercial network from September after finishing the selection of equipment vendors until next month.

"We are working on studies of how 5G technology is changing the world," SK Telecom head Park Jung-ho said, adding that “SK Telecom will help increase the competitiveness of related industries beyond its infrastructure investment.”

"4G is mainly related to B2C (consumer service), but now B2C is only a small number," KT chairman Hwang Chang-gyu said, stressing “the importance of investment and government support as 5G service has characteristics of a public property.”

The three telecom companies held a meeting with the government earlier this year to show their commitment to cooperation for early formation of the 5G network and the world`s first commercialization.

“It is important for the mobile carriers to work together and avoid fierce competition for the title of world`s first 5G service provider in order for South Korea to ensure the country’s headway in commercialized 5G service.

By Lee Sun-hee and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]