New revenue models and improved industry competitiveness realized by 5G

Ericsson-LG held 'The quest for easy 2018' seminar at The Plaza Hotel on May 31st. In this event, which was renamed from Networked Society Day this year, the latest 5G mobile communication technologies and related use cases were presented.

The event was held with interest of many participants in the mobile communication industry as it is ahead of the world’s first 5G commercialization next year. In Part 1, the 5G-based access and core network technology, digital service support solution and cloud-based IoT platform were introduced. In Part 2, a variety of global use cases of the new revenue model and improved industry competitiveness realized by 5G were shared, attracting much attention from participants. On the other hand, the early bird session, which was held before the official event, explained the opportunity in the industry triggered by 5G as a new approach of service cluster.

Patrick Johansson, CEO of Ericsson-LG, emphasized the impact of introducing 5G, saying, "As shown in the BLISK case which is about critical jet engine component production, 5G adoption can bring cost savings of one million euros every day." continued ""As a platform for the Fourth Industry Revolution, 5G will be able to connect with diverse ecosystem participants more quickly and accurately, flexibly support diverse business models and expansion opportunities”, and “require a high level of information security for national security as well as privacy”