Ministry of Science and ICT "Reviewing Required Documents Submitted by StageX"

"Request for Resubmission of Capital Payment Plan Proof Documents"

Seo Sang-won is introducing the 28GHz communication business strategy at the Stage X media day. Photo by Kang Jin-hyung aymsdream@

The Ministry of Science and ICT announced on the 27th that it is currently reviewing the 'required documents' submitted by StageX, which was selected as the 4th mobile carrier.

The required documents are those proving that the frequency allocation target entity has fulfilled the necessary requirements prior to frequency allocation.

The Ministry of Science and ICT explained, "The current review focuses on the shareholders related to the payment of capital, and we have requested StageX to resubmit evidence supporting the capital payment plan that StageX explained to the government."

They added, "Based on the materials submitted by the business operator, we plan to review whether the necessary requirements have been fulfilled."

Earlier this month, StageX paid 43 billion KRW, the first bid amount for 5th generation mobile communication (5G) frequencies, to the Ministry of Science and ICT.

The amount paid on the day was 10% of the auction price of 430.1 billion KRW, and with StageX’s payment of the first amount, it officially launched as the 4th mobile carrier following SK Telecom, KT, and LG Uplus. StageX is also expected to complete its registration as a telecommunications service provider soon.