Affordable 5G and LTE plans to be introduced

Users of fifth-generation mobile communication devices will soon have the option to subscribe to cost-effective long-term evolution (LTE) plans, which is slated to be implemented in the first quarter of 2024, with the introduction of a 5G plan priced at just 30,000 won per month. In addition, a range of competitively priced mid-range smartphones will also be launched.

The decision was announced at an emergency economic ministers’ meeting presided over by Finance Minister Choo Kyung-ho, where the Ministry of Science and ICT presented a comprehensive plan to make communication services more affordable. This initiative aligns with measures disclosed in July 2023, designed to foster competition in the communication services market. Despite two recent revisions to 5G plans by the government, the cost of the most basic plan has remained relatively high, and the price of compatible devices has been a significant financial burden for many households.

The government’s primary focus has been expanding the variety of plans available to users to address these concerns. Notably, major mobile communications carriers such as SK Telecom, KT, and LG Uplus have agreed to amend their terms and conditions to allow 5G smartphone users to subscribe to LTE plans, a previously unavailable privilege. This means that 5G device users who require less data can now select more budget-friendly LTE plans. These revised plans will be available starting this November.

Furthermore, the minimum cost of a 5G plan, currently set at 40,000 won, is set to decrease. An agreement between the Ministry of Science and ICT and the three major mobile carriers will introduce a new plan with a fixed monthly rate of 30,000 won by the first quarter of 2024. To provide users more flexibility, 30GB data plans, which currently offer limited options, will undergo a revamp, allowing customers to pay only for the data they actually use. For the younger generation, a Youth 5G plan is on the horizon, offering various benefits, including discounts on roaming services and incentives like coffee and movie coupons. This plan is slated for launch in the first quarter of 2024.


namduck2@donga.com