StageX, which has taken its first steps as the 4th mobile carrier, is starting preparations for its full-scale incorporation.

StageX announced on the 19th that it will begin preparations for launch by establishing a preparatory corporation, 'StageX', with the cooperation of major shareholders who form the consortium.

StageX had been preparing for its organizational structure by forming the "StageX Promotion Team," but as it reached the final stages of capital increase and recruitment, the incorporation of a corporation became necessary. This is explained as a crucial turning point for StageX to complete formal procedures and establish itself as a telecommunications service provider.

StageX's capital is 200 billion won, and it plans to increase capital through a paid-in capital increase in accordance with its initial business plan. StageX also announced that it will complete payment of 43 billion won, or 10% of the total spectrum fee, by May 7th. It also plans to prepare reserve funds, including corporate loans, through Shinhan Investment & Securities when necessary.

With the establishment of this corporation, StageX plans to establish the necessary organization for the launch of its "Real 5G" service in the first half of 2025 and accelerate the construction of infrastructure, including a cloud core network. The preparatory corporation will initially employ approximately 20 key leadership personnel, with the goal of gradually increasing its staff. The corporation's representative will be Sangwon Seo, CEO of Stage Five, the representative company of the StageX Consortium.

CEO Seo was selected as a Microsoft Research Scholar while pursuing his PhD in Computer Science at KAIST. He earned his PhD in System Cloud and founded Ahems, a cloud infrastructure technology startup. After merging with KT, he led KT's server and storage virtualization and large-scale operating system projects. He also led the cloud organization at LG Electronics, responsible for all aspects of service planning, development, and operations, and launched cloud services in 45 countries worldwide.

CEO Seo stated, "I understand that some claim StageX will need over 1 trillion won in initial investment in facilities and marketing. However, this is a confusion of the national investment case and differs from StageX."

He added, “StageX will establish itself as a company that significantly reduces communication costs, creates innovative services, creates jobs, and has a positive impact on society, based on its mission to ‘reduce household communication costs’ and ‘provide a communication experience unlike anything before.’”