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Hwang Hyeon-sik, LG Uplus president, speaks at a press convention held in Seoul on Thursday. (LG Uplus) |
LG Uplus, South Korea’s third-largest telecom operator by market share, has pledged to extend the gross sales proportion of non-telecommunication providers to 40 % of the entire by 2027 with a deal with creating platform companies.
“Now shifting past the world of conventional telecom companies, we need to open up the period of ‘U+3.0’ that creates data- and technology-based platforms and providers centered round clients to find future development engines,” mentioned Hwang Hyeon-sik, president of LG Uplus, in a press convention on Thursday.
Stressing the significance of innovating buyer experiences via understanding clients by securing their information, Hwang launched the corporate’s technique for advancing 4 platform companies in way of life, leisure, little one care and future applied sciences.
In keeping with LG Uplus, the corporate will proceed to hurry up the digital transformation within the present telecommunication providers via the implementation of versatile month-to-month plans for cellular customers and the embedded subscriber identification module, often known as eSIM, which permits individuals to have two totally different numbers in a single cellular gadget.
LG Uplus pointed to its recently-launched subscription service Udok as a frontrunner in increasing its platform companies. The corporate mentioned Udok provides extra handy entry, cheaper bundle offers and an easier cancellation course of for purchasers to pick out subscription providers simply and with extra freedom.
The corporate mentioned it is going to use the info collected from Udok to supply new companies in well being care, pet and journey, including the objective is to safe a way of life platform that has 7 million customers within the subsequent 5 years.
Relating to the leisure platform, LG Uplus mentioned it is going to purpose to supply extra content material via its over-the-top providers with extra tv packages that includes Okay-pop idols and sports activities which have stable fan bases.
LG Uplus mentioned it is going to additionally present extra numerous providers in little one care with new interactive schooling content material. The corporate added that it’s going to arrange a commerce platform that recommends lecturers and instructing instruments to oldsters.
“With a view to create a touchpoint that may talk with dad or mum and little one clients, we’ll put together a subscription-based platform that may change into ‘Children’ Netflix,’” mentioned Hwang.
For the transition into net 3.0 — the following period of the Web — LG Uplus mentioned it is going to broaden funding in analysis and growth of metaverse and non-fungible tokens in addition to startups to safe core future applied sciences.
With the bolstering of platform companies, LG Uplus laid out the objective of mentioning the corporate’s market capitalization to 12 trillion gained ($8.6 billion) in 2027. The corporate’s market capitalization stood at 4.9 trillion gained as of two p.m. Thursday.
By Kan Hyeong-woo (hwkan@heraldcorp.com)
