Business

LG Uplus eyes growth momentum in 5G


Seoul, March 15 (IANS): LG Uplus Corp would expedite deployment of the 5G network and develop various services to create new business opportunities, CEO Ha Hyun-hoi said on Friday.

South Korea's No. 3 mobile carrier will offer a wide range of media services to gain a competitive edge in its 5G business, based on a wider customer base following its acquisition of the nation's No. 1 cable operator, CJ Hello, in February, he said.

"5G service will change the everyday lives of our customers, creating new business opportunities not only in the (business to customer) business but also in the (business to business) areas, including autonomous vehicles, smart factories and smart cities," Ha said in a shareholder meeting at the company's headquarters here, Yonhap news agency reported.

"We will pro-actively respond to the fast-changing business environment and concentrate on key services for sustainable growth."

The telecom company logged sales of 12.1 trillion Won ($10.6 billion) in 2018. It offered 400 Won in dividends for per share, the same as 2018.

LG Uplus has been teaming up with Chinese network manufacturer Huawei to deploy the next-generation cellular technology in the nation.

Huawei's gear is used in about 95 per cent of 15,000 5G base stations established in the nation so far, according to the firm.

LG Uplus earlier said it aims to complete building its 5G infrastructure in major cities by the end of 2019.

 

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