South Korea telecom market is a Digital Pioneer market in Eastern Asia with 3 main South Korea telecom companies and 60.4 million mobile connections. south korea telecoms
According to the International Telecommunication Union (ITU) 2020 report, South Korea ranked 1st globally in terms of mobile broadband subscriptions per 100 inhabitants, with a penetration rate of 171.6%.
The same report also revealed that South Korea had the lowest average monthly cost of mobile broadband subscriptions among the countries surveyed, at USD 14.90 per month. This is significantly lower than the global average of USD 28.50 per month.
In terms of fixed broadband prices, South Korea also had one of the lowest average monthly costs among the countries surveyed, at USD 22.50 per month. This is lower than the global average of USD 32.70 per month.
In comparison to other countries in Asia, South Korea’s telecom prices are generally considered affordable, with the country ranking high in terms of both broadband penetration and affordability.
South Korea telecom regulatory authority: KCC
South Korea telecoms
South Korea is ranked 2nd out of 34 with an Asian Telecoms Maturity Index score of 93. (BuddeComm’s “Asian Telecoms Maturity Index”, is an index (on a scale between 0 and 100) that measures and ranks the relative maturity of the telecoms industry in all of the 34 countries in Asia.) Compared to other Asian nations, South Korea has very high mobile and mobile broadband penetration and very high fixed broadband penetration.
Fixed lines in South Korea have been gradually declining over the past five years. This trend is predicted to continue over the next five years to 2023.
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South Korea has one of the world’s most active telecommunications and Information Technology (IT) markets backed by strong support from the government. As well as the commitment of the government, the sector is boosted by an innovative private sector and a technologically savvy population. Spending on ICT and high-technology equipment helped lead a transformation of the economy. The government aims to transform the country into a knowledge-based information society in a ‘smart-age™.