Last Friday Patently Apple posted a report titled "South Korea's Telecom Operators are Praying that Apple's 5G iPhone 12 will ignite a boom in 5G subscriptions" The report noted that "Apple Inc.'s new iPhone 12 is expected to boost South Korea's number of 5G users to over 10 million by the end of this year. Well, that's what South Korea's big three Telecoms are praying for, as the country looks to lead the global race to deploy the latest-generation network." Today their prayers have to turn into action.

Today Apple launched their new iPhone 12 in South Korea on Friday, joining the fierce competition for the local 5G phone market.

The country's 5G phone market has so far been dominated by local tech giants, such as Samsung Electronics Co. and LG Electronics Inc., but the newest iPhone models -- Apple's first smartphones to support the high-speed network -- are expected to heat up competition.

Local telecom operators have aggressively promoted Apple's devices since the iPhone 12 and its high-end Pro model became available for preorder on Oct. 23.

SK Telecom Co., the country's largest wireless provider, started delivering preorders for the new iPhone to 3,500 buyers.

The carrier plans to hold a launch event for the new iPhone later in the day at its new flagship store in the trendy neighborhood of Hongik University, western Seoul.

Another telecom giant, KT Corp., also held an online launch event on Thursday night, featuring popular local YouTubers.

Rival carrier LG Uplus Corp. also held a launch event at its flagship store in southern Seoul on Thursday night.

Analysts expect migration to 5G in the local market to pick up with the release of the new iPhone, considering Apple's popularity in South Korea.

Hana Investment analyst Kim Hong-sik commented for the Korean report by stating: "With the launch of strategic 5G phones, monthly user growth in the network is expected to reach 1 million."

Apple held the second spot in the local smartphone market in the second quarter of the year with a 19 percent share, behind Samsung at 67 percent, according to industry tracker Counterpoint Research. Though it must be pointed out that in Q2 Apple's iPhone SE was actually the top smartphone sold in South Korea.