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At present, the South Korean government is leading South Korean enterprises to seize 5G business opportunities. On Wednesday, the South Korean government unveiled preliminary plans to expand industries related to fifth-generation cellular networks, with the aim of increasing the global market share of 5G network devices and smartphones for South Korean companies.

South Korea's Ministry of Communications has pledged that exports from South Korea's 5G-related industries will reach 73 billion won ($62.1 million) by 2026. To achieve this, they will generate 180 trillion won of industrial output related to the 5G business. At that time, South Korean manufacturers in the global 5G network equipment market share will reach 20%. As for the 5G smartphone market, Samsung and LG have vowed to secure a top spot by taking a 30 per cent share of the global market.

According to the global smartphone market report for the first quarter of the year by US market research firm IDC, Samsung Electronics ranked first in the world with 29.47 per cent, ahead of Huawei in second place and twice as much as Apple in third place.

It is also reported that Samsung Electronics and LG Electronics have started the research and development of 6G communication technology. Recently, Samsung has also reached a partnership with local telecom companies in 6G.

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