Application for Establishment of Preparation Corporation for 4th Telecom 'StageX'... Capital of 200 Billion Won

Plan for Paid-in Capital Increase... Organization and Infrastructure Establishment
Payment of 43 Billion Won for Frequency Fees on the 7th of Next Month

Seo Sang-won, CEO of StageX, attended the 'StageX Media Day' held last February at the Fairmont Ambassador Seoul in Yeouido, Seoul, where he introduced the 28GHz communication business strategy. Photo by Kang Jin-hyung aymsdream@

The fourth mobile carrier, 'StageX,' announced on the 19th that it has submitted an application to establish a preparatory corporation.

StageX's capital is approximately 200 billion KRW. According to the initial business plan, a paid-in capital increase will be conducted. They also revealed plans to complete the payment of 43 billion KRW, which is 10% of the total frequency fee, by the 7th of next month. At the necessary time, corporate loans through Shinhan Investment Corp. will be prepared as contingency funds.

Starting with the establishment of this preparatory corporation, StageX plans to lay the foundation for organizational structure. Along with the establishment of the preparatory corporation, essential organizations for launching the 'Real 5G' service in the first half of 2025 will be formed, and infrastructure construction including the cloud core network will be accelerated. The number of employees in the preparatory corporation will start with about 20 leaders and gradually increase. The CEO of the corporation will be Seo Sang-won, CEO of Stage Five, the representative company of the StageX consortium.

StageX intends to introduce differentiated Real 5G communication services based on the 28 GHz frequency band, characterized by ultra-high speed, ultra-low latency, and ultra-connectivity to consumers. CEO Seo stated, "We will establish ourselves as a company that significantly reduces communication costs, creates innovative services, generates employment, and has a positive impact on society."