The broadband cable subscriptions in South Korea have experienced a noticeable decline over the past decade. In 2023, the market stood at 2.1994 million subscriptions, reflecting a substantial year-on-year decrease of 8.83%. Over the last two years, from 2021 to 2023, there was an average decline of approximately 8.53% per year. Evaluating the past five years, the CAGR (Compound Annual Growth Rate) was measured at -8.77%, confirming a consistent reduction in subscriptions.
Forecasts indicate this downward trend will continue, with projections showing subscriptions dropping to 1.1655 million by 2028. This projected decline represents a 5-year CAGR of -10.13%, equating to a total reduction in subscriptions of 41.39% over the forecast period.
Future trends to watch for include the growing adoption of alternative technologies such as fiber-optic internet and 5G wireless services, which are expected to further erode the market share of traditional broadband cable subscriptions. Additionally, the increasing digital transformation and demand for high-speed, reliable internet could drive this shift, further accelerating the transition away from broadband cable services.
