5G@EUROPE SUMMIT: Projections by South Korea of the economic benefits from 5G prompted Luigi Gambardella (pictured), chairman of European Telecommunications Network Operators’ Association (ETNO), to ask “Where is Europe? These figures give us a clear signal that the race is on.”

Gambardella was impressed by the bullish forecasts coming out of the Asian country.

The European telecoms industry has historically been at the forefront of innovation since the early days of GSM, he said, and still represents approximately 40 per cent of the global network supply market.

And the objective for 5G should be to secure leadership in those areas where Europe is strong or where there is the potential for new markets, he argued.

He welcomed the European Commission’s 5G Public-Private Partnership (5G PPP) announcement in December which promised support of €700 million from the commission mirrored by a similar sum from the private sector.

However, Gambardella also used the occasion to argue for reform of Europe’s spectrum policy. He pointed to a Boston Consulting Group report commissioned by ETNO last year that said such a change could release €10 billion in fresh cashflow for new network investment. ETNO supported Neelie Kroes’ proposals in this area, he said.

The Korean Science Ministry has forecast total sales from 5G-related equipment at KRW331 trillion ($309 billion) from 2020-2026.

And the country plans to invest $1.49 billion by 2020 with local operators and vendors to build 5G networks.