The chief of LG Uplus, the nation's third-largest mobile carrier, pledged that the company would make the utmost effort not to be left behind in the era of fifth-generation networks.
"We are standing at the tipping point of the 5G era where we will see the biggest changes unfold down the road," LG Uplus vice chairman Lee Sang-chul said at an annual year-end media conference in Seoul Friday, vowing to brace for the next phase of the mobile network business.
"How we are getting ourselves prepared in the next five years for the changes will decide our fate for the next 50 years," he added.
The 5G network, which will enable high-rate data transmissions among a slew of devices and sensors, is expected to help mobile network operators deliver tailored services to their clients like livestreaming video content and cloud services.
For example, he said, people in the near future will be able to communicate with mobile phones equipped with analytics capability based on big data systems and ask the devices for solutions to issues they face.
The number of connected sensors, now standing at around 20 billion worldwide, will increase up to 100 billion in 2020 when the 5G network services are launched in earnest, according to data compiled by LG Uplus.
The executive also predicted the development of ICT will continue to beget disruptive ideas and technology, which will change the perceptions of people, and the entire tech world.
"The concept of sharing stuff, like cars and houses, instead of owning and purchasing them, will gain more traction in the future thanks to the improvements in the advanced ICT infrastructure," he said.
As for this year's performance of LG Uplus, he said, "the year 2014 was not easy (due to stiff competition)."
Industry data showed mobile subscribers have easily switched their mobile carriers, depending on services and rates offered, going beyond brand loyalty.
For the first 10 months, there were a total of 18 days when the number of mobile subscribers who switched their mobile carriers exceeded 50,000, and 5 days when the figure hit 100,000.
LG Uplus launched the fourth-generation Long Term Evolution services in Korea in July 2011.
It established 90,000 LTE base stations and began high-definition TV services via the LTE network in 2012, and Voice over LTE services for the first time in the world in 2013.