Seoul - The European Union is set to collaborate with South Korea to develop and promote 5G, the world's next generation mobile network, the bloc said.

The EU and Seoul will join forces to help set a rollout timetable for 5G, an ultra-fast new generation of mobile internet that remains ill-defined and is still many years away from being implemented.

The EU has pledged 3-billion euros in support of the initiative, which is intended to provide a boost to the European telecoms industry, which is lagging behind the United States and Asia in terms of providing the current standard of mobile internet, 4G.

Neelie Kroes, the EU commissioner in charge of digital technology, said: “5G will become the new lifeblood of the digital economy and digital society once it is established.” - Sapa-dpa