Stage X, which has been named the nation's fourth operator of the 28 gigahertz(GHz) band of the fifth-generation network(5G), says it will launch services nationwide early next year. 

Stage X CEO Seo Sang-won unveiled the plan during a Media Day event held in Seoul on Wednesday while also disclosing intent to reach sales of one trillion won within three years of launching services. 

He said though some have cited that the bid Stage X tendered was excessive, the consortium had reached the bold decision to tender the highest bid as it had made preparations for a long period of time and given the confidence and sincerity it has about the services it can provide. 

The consortium, comprising Kakao Corporation affiliate Stage Five and other companies, had tendered the highest bid of 430-point-one billion won, or around 323 million U.S. dollars, to beat Sejong Telecom and Mobile Consortium. 

On skepticism about the consortium’s financial capacity, Seo said aside from the government loans it received, it had secured 400 billion won in funds early on.