LG Uplus inks deal with Hong Kong’s telco giant to supply 5G content

2020.03.23 15:54:00

[Photo provided by LG Uplus Corp.]이미지 확대

[Photo provided by LG Uplus Corp.]

South Korea’s telecommunications company LG Uplus Corp. continued with outward advance with its 5G hardware and software.

LG Uplus said it established a strategic partnership with Hong Kong Telecom under Hong Kong’s leading ICT group PCCW to supply VR content. It was the second time that the company signed a contract to export its 5G content, following a deal with China Telecom in October last year.

HKT is top telecom company in Hong Kong with 4.3 million subscribers. It makes annual sales of 33.3 billion Hong Kong dollars (5.4 trillion won or $4.3 billion) on average and operates communication network in 3,000 cities around 140 countries. Hong Kong is set to commercialize 5G network starting April 1.

The two companies had been in talks to strike the deal following PCCW CEO Janice Lee’s visit to Korea at the end of the year.

LG Uplus will provide more than 120 VR content including K-pop shows that are also available in Korea under U+VR platform, the company’s streaming platform offering more than 1,500 content including 3D videos, 4K UHD games, live sports, movies and travels.

The company has been actively looking for overseas markets to export its 5G content. Its vice chairman Ha Hyun-hoi said during the recent management meeting that the company has been receiving many inquiries from overseas firms for partnership, urging employees to stand ready for the days when the virus spread is contained, according to sources.

LG Uplus expects it will be able to sell its 5G content to broader nations this year as many countries plan to commercialize 5G network starting this year. It is in final talks with several telecom firms in Asia and Europe to export the content.

By Lim Young-shin and Choi Mira

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