An auction for frequencies that will be used for the fifth generation wireless network began on Friday. 

South Korea's three major mobile carriers -- SK Telecom, KT, and LG UPlus -- all gathered in the auction room in Seongnam City, determined to secure their preferred frequency. 

The 5G frequency bands of three-point-five gigahertz and 28 gigahertz are up for auction. The competition for the three-point-five gigahertz wavelength is expected to be especially fierce, as it can provide better service nationwide.

The starting price of the frequency bands is set at around three-point-three trillion won. 

The auction will be held in two stages, with the three companies first submitting their bidding prices. The allocation of wavelengths will be decided during the second part of the auction on Monday.