LG Uplus budgets $2 bn to beef up 5G content and next-gen capacity

Korea’s wireless carrier LG Uplus will inject 2.6 trillion won ($2.22 billion) over the next five years to develop 5G contents and next-generation technology as a part of investment roadmap for an integrated platform combining broadcasting and telecommunication services via the planned acquisition of CJ Hello, a local cable TV operator.

In a regular leadership team meeting held on Monday, LG Uplus Vice Chairman Ha Hyun-hwoi,, said, the company will lead the local telecommunication broadcasting and media market by investing 2.6 trillion won over the next five years to produce 5G content and develop wired and wireless technologies.

The latest investment plan is about twice the annual average investment committed by LG Uplus in related fields.

The cable industry is currently experiencing a stagnant growth, which makes it difficult to advance networks and create innovative content, said Ha, regarding the reason for his investment decision.

LG Uplus Vice Chairman Ha Hyun-hwoi.

Ha directed his leadership team to secure necessary technology to provide LG Uplus’ innovative content and services to CJ Hello customers after the transaction, asking for a preemptive lead in technology and content development to bring life to augmented and virtual reality, one of key 5G services.

LG Uplus plans to focus its investment on discovering and developing 5G innovative content such as AR/VR, telecommunication and broadcasting convergence media platform services and related technologies, and stabilizing cable service quality.

LG Uplus is preparing to enhance its cable platform competitiveness by expanding the 8VSB channel, upgrading cable TV quality, and co-producing 5G content after its acquisition of CJ Hello. Starting next year, LG Uplus will also introduce AR/VR-based content to TV beyond smartphones.

To this end, LG Uplus will increase the number of 5G-only content to more than 19,000 units this year, wihile launching the coutry’s second AR studio following its first one by the first half of next year.

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