Communications industry will see dramatic changes with the arrival of 5G. 5G is not only about high capacity and ultra-low latency, but also about accommodating Verticals, providing newer flexibility in business development and agility. Network slicing has become an enabler for on-demand accommodation of such Verticals in a mobile network. To support such new features, 3GPP is continuing standardization of a 5G system with all necessary requirements in mind. This paper provides a detailed view of the standards and the technologies that'll make 5G a reality. Specifically, this paper focuses on the new 5G Radio Access Network (RAN), network slicing enabled new 5G Core (5GC) Network, and new management system capable of handling network slicing related management aspect of a mobile network.

In the context of resource isolation for network slicing, this paper introduces two resource allocation methods especially for the radio access network (RAN) part. Both methods can be implemented by slight modification of the ordinary packet scheduling algorithm such as the proportional fairness algorithm, and guarantee resource isolation by limiting the maximum number of resource blocks (RBs) allocated to each slice. Moreover, since both methods flexibly allocate RBs to the entire system bandwidth, there are cases in which the throughput performance is improved compared to when the system bandwidth is divided in a static manner, especially in a frequency selective channel environment. Numerical results show the superiority of these methods to dividing simply the system bandwidth in a static manner, and show the difference between the features of the methods in terms of the throughput performance of each slice.