Meeting held with companies related to 5G network equipment and components
Sharing policies such as 5G equipment testing and verification and 5G trade insurance

The Ministry of Science and ICT held a meeting with relevant small and medium-sized enterprises on February 4 to promote exports of 5G network equipment and components.
Through the meeting, the Ministry of Science and ICT shared details regarding the government's overseas expansion support policies and projects with industry stakeholders and listened to the voices of the industry on the export front.

During the meeting, the participants shared support measures regarding the collection of overseas local information, 5G equipment, testing, and verification, and policies and projects that provide preferential treatment through 5G trade insurance.

The Ministry of Science and ICT has systematically promoted 5th generation (5G) mobile communication commercialization policies and the 5G+ strategy, contributing to domestic companies occupying the second-largest share of the global 5G equipment market. Thanks to this, some small and medium-sized enterprises also achieved high sales through 5G co-growth.

In fact, equipment company A recorded sales of 522.1 billion won in the third quarter of 2019, a 420% increase compared to the same period of the previous year, and parts company B achieved sales of 160 billion won during the same period (a 280% increase compared to the same period of the previous year).

The Ministry of Science and ICT is promoting network investment by telecommunication companies by implementing 5G tax credits and 5G quality evaluations, and telecommunication companies are building a foundation for the growth of the domestic network industry by promoting the commercialization of 5G SA (Standalone) communication.

Heo Seong-wook, Director General of Information Protection and Network Policy at the Ministry of Science and ICT, stated, “As the export front is the backbone of the Republic of Korea, we will ensure that 5G achievements are evenly distributed to contribute to our economic development,” adding, “We will continue to listen to the difficulties faced by companies and actively support the overseas expansion of small and medium-sized enterprises.”

Meanwhile, the Ministry of Science and ICT plans to promptly disseminate various news, such as overseas buyer invitation events, test verification applications, and preferential information on 5G trade insurance, through the Korea Network Industry Association.