South Korea has become the first country to sell both of the major frequency bands needed to develop the next-generation 5G network to its mobile carriers,... who aim to commercialize the services by early next year.<br />During the two-day auction, the frequencies were sold for more than three billion U.S. dollars,... funds that will be used to develop the nation's broadcasting and ICT sectors. <br />Kim Hyo-sun tells us more. <br /> <br /> South Korea finished its 5G frequency auction on Monday,... marking a crucial step forward in becoming the world's first country to commercialize 5G services.<br />Frequencies were sold to South Korea's three mobile carriers for a total of three-point-two billion U.S. dollars.<br />The Ministry of Science and ICT put up the bid for 280 megahertz of bandwidth within the 3-point-5 gigahertz frequency band,... and 24-hundred megahertz of bandwidth within the 28 gigahertz band. <br /> The 3-point-5 gigahertz frequency band, considered most crucial in building a nationwide network as it travels further than the 28 gigahertz band was sold for approximately two-point-six billion dollars. <br />The 3-point-5 gigahertz frequencies were sold in 28 blocks of ten megahertz,... and each carrier was limited to ten blocks, or a total of 100 megahertz to prevent monopolization. <br /> Korea's largest carrier SK Telecom and its closest rival KT both took the largest possible amount of the frequencies on bid,... with ten blocks, or 100 megahertz of the 3-point-5 gigahertz band.<br />The smallest carrier, LG U Plus settled for the remaining eight blocks. <br />The 28 gigahertz frequency blocks were sold evenly to the three carriers. <br />The money paid by the three companies will be used to develop broadcasting contents and information and communications technology. <br /><br /> "The ICT Promotion Fund is used for the development of information and communications technology, and Broadcasting and Communications Development Fund is used in various areas within the broadcasting sector."<br /><br /> With the finalization of the frequency bid,... Korea's mobile carriers aim to commercialize 5G network by March 2019,... contributing to the nation's goal of leading global 5G development.<br />Kim Hyo-sun, Arirang News. <br />
