South Korea is the first country to roll out commercial 5G services. In less than 3 months, the country has hit its 1 million 5G subscriber milestone, surpassing its 4G adoption rate.
According to the Ministry of Science and Technology in South Korea, the number of 5G subscriptions exceeded 1 million in just 69 days. As a comparison, it took 80 days to acquire 1 million 4G LTE subscriptions back in 2011. It was also reported that there’s an average of 17,000 new 5G subscriptions daily.
Among all the operators, SK Telecom has the biggest chunk of 5G users with 40% market share followed by KT and LG U+ at 30% each. It is forecasted that 5G subscriptions could hit 4-5 million by end of this year especially when more 5G enabled devices such as the Galaxy Note 10 and Galaxy Fold are released to the market. Since 5G is still new, coverage is still limited to key market locations, and coverage will play an important role to accelerate 5G adoption.