South Korea plans to create a multibillion dollar 5G industry over the next eight years.
Celebrating the country's launch of a 5G network for mobile users last week, the first of its kind anywhere in the world, the science ministry on Monday revealed its so-called 5G Plus Strategy
Identifying ten core industrial sectors, the government plans to spur the development of gadgets utilizing the super-fast wireless network.
These include AR and VR devices, state-of-the-art smartphones and network equipment, as well as drones, robots and wearable devices.
Such devices would not only offer commercial value but also boost public welfare, by improving CCTV systems, allowing the observation of old facilities, and aiding the development of 5G-based drone for postal services.
Also, the plan specifies five service areas of focus, which include content, digital healthcare, smart cities and driverless technology.
It aims to install 5G-based smart city centers to control and monitor transport and public facilities, as well as incorporate 5G technology in at least half of the countries' general hospitals by 2023.
In order to achieve its goals, Seoul plans to expand public investment for 5G projects as well as cooperation with the private sector, by offering tax incentives and subsidies for related ventures.
"The government expects the 5G initiatives to create 158 billion dollars worth of new production value, of it, 73 billion dollars in exports, as well as 600-thousand new jobs by 2026.
Oh Soo-young, Arirang News."