Ministry of Science and ICT's 5G Convergence Service Project... Innovation with Ieum5G

[Asia Economy Reporter Lim Hye-seon] The Ministry of Science and ICT announced on the 29th that it will launch a demonstration project for the '5th Generation (5G) Mobile Communication Convergence Service Project' in collaboration with the National Information Society Agency (NIA) and the National IT Industry Promotion Agency (NIPA).

This project aims to discover and expand impactful 5G convergence services by utilizing the characteristics of Ieum 5G and 5G-related technologies in major public and private sectors, and to provide opportunities for the application of Ieum 5G-related technologies and business participation. Ieum 5G is a communication network that allows businesses wishing to offer 5G convergence services to directly build 5G networks by utilizing 5G frequencies on a specific area (land/building) basis.

Composed of three demonstration projects, a total of 48 billion KRW will be invested this year in both public and private sectors to demonstrate 11 tasks. A total of 36 consortia proposed tasks this year, and 11 consortia?7 in the public sector and 4 in the private sector?comprising a total of 42 companies and institutions, have been selected to begin Ieum 5G demonstrations.

Among them, the public sector demonstration project, which involves 7 tasks with a total investment of 40 billion KRW, is being promoted to accelerate digital transformation by applying 5G convergence services in fields such as healthcare, logistics, and energy. The private sector, with an investment of 8 billion KRW, will carry out projects to revitalize the entire 5G industry ecosystem and lead the 5G 28GHz market.

By the end of August, the '(tentative name) 5G Alliance' will be launched to create a platform for cooperation among participants (industry, universities, research institutes, associations, etc.), prepare expansion roadmaps for major industrial sectors, provide consulting to strengthen the ecosystem, and discover new business models led by the private sector to promote domestic and international expansion.