South Korean telecom and pay TV services total revenue expected to decline through 2024
Summary
A new report on the South Korean telecoms industry predicts steep declines in mobile and fixed voice revenue over the next five years. It attributed the growth rate spike to the growing field of machine-to-machine connections and the projected expansion of 5G services as well as increases in the average mobile data revenue accrued per user. "With all the three major operators, SK Telecom, KT and LGU+ having launched their 5G services in April 2019 and expanding network coverage, 5Gs share in total subscriptions is set to reach 40.1% by year-end 2024." "For instance, KT has pledged an investment of $13.8 billion in 5G infrastructure and ICT convergence by 2021 while SK Telecom is aggressively deploying 5G network in all populated public areas such as highways, trains, major cities and parks." Mobile data accounts for an estimated 36.9% share of the total telecom service revenue in 2019 and GlobalDatas report predicts that figure will increase to nearly 44% by 2024.
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