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South Korea announced Monday that it would launch its 6G network with world-class technology and advanced software-based next-generation mobile networks.
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It also plans to strengthen its network supply chain.
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The Korean Ministry of Science and ICT announced the news.
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South Korea's government will encourage local businesses to produce components and materials for its 6G network.
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It also plans to strengthen its supply chain to support the said network.
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An initial feasibility study is underway to explore core 6G technology.
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The project's estimated value is 625.3 billion WON (roughly $ 482.1 million).
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South Korea aims to surpass the rest of the globe with the 6G technology through this initiative.
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South Korea is Asia’s fourth-largest country and will account for 25.9% (5G) patents in 2022. China, however, accounts for 26.8%.
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South Korea's government is hopeful it will surpass 30% in the 6G patents competition.