This growth will be primarily supported by the efforts of telecom operators and the government to develop the 5G infrastructure
According to GlobalData, after declining 1.4% in 2020, due to the pandemic, total mobile service revenue in South Korea will recover in 2021 and reach $25.2 billion in 2025.
It will grow at an average annual growth rate (CAGR) of 4.2% between 2020 and 2525, operated by robust growth in both mobile data and mobile voice revenues.
GlobalData’s Report on carriers in South Korea predicts mobile data revenues to grow at a significant 5.9% CAGR over the forecast period, driven mainly by expected growth in the adoption of 5G services with higher ARPUs. On the contrary, revenues from mobile voice services will grow by an average of 4% over the forecast period.
We’ve reported that payment cards are accounting for 70.4% share in 2020, making them the most preferred payment method for e-commerce purchases in South Korea.