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LG Uplus

LG Uplus Corp., commonly known as LG U+, is a leading South Korean telecommunications company and the third-largest mobile network operator in the country, owned by LG Corporation. Founded in 1996 as LG Telecom, it provides comprehensive services including 5G and 4G mobile communications, high-speed broadband internet up to 10 Gbps, IPTV, smart home solutions, and enterprise AI-driven offerings such as anti-phishing call detection and post-quantum cryptography. Headquartered in Seoul, LG U+ ranks among the top three providers in South Korea for mobile, broadband, and pay TV services, with a focus on innovation in AI, IoT, and next-generation networks. The company's history began with the commercialization of CDMA technology in July 1996, marking LG Telecom's entry into personal communications services. In 2010, following a merger with LG Dacom and LG Powercom to expand into fixed-line and broadband capabilities, it rebranded as LG U+ on July 1, integrating mobile, wireline, and broadband operations under one entity. Key technological milestones include launching one of the world's first commercial networks in 2011 and the first 3-band commercial network in 2014, solidifying its position in advanced wireless infrastructure. LG U+ has since pioneered commercialization in , exporting content like / experiences and expanding into -enhanced enterprise solutions, including security-focused tools like ixi-Guardian. The company has received accolades such as the Korea Information Security Award and certification for customer-focused call centers, reflecting its commitment to service quality and innovation. As of 2025, LG U+ continues to grow its mobile subscriber base and invest in technologies through partnerships within the Group, aiming to enhance cooling efficiency and support emerging demands.

Overview

Company profile

LG Uplus is a major South Korean telecommunications company that provides a comprehensive range of services, including communications, fixed-line , internet, IPTV, and (B2B) solutions. As part of the LG Group, the company delivers integrated connectivity and digital services to residential, enterprise, and public sector customers across the country. Its offerings emphasize high-speed networks and innovative platforms, such as the U+ ecosystem, which supports digital content delivery and smart device integration. The company holds a prominent market position as the third-largest in , serving approximately 21.2 million mobile subscribers as of Q3 2025, with a strong emphasis on deployment and -enhanced services like intelligent call screening and enterprise solutions. This focus has driven subscriber growth, particularly in premium segments, where penetration exceeds 80%. LG Uplus continues to innovate in smart home technologies and through its U+ platform, enabling seamless access to personalized content, devices, and -driven home automation features. Headquartered in , , LG Uplus employs approximately 10,500 people as of 2024, supporting its nationwide operations and research initiatives. Founded in 1996 as LG Telecom, the company reported revenue of 14.63 trillion KRW in 2024, reflecting steady growth in its core segments.

Ownership and operations

LG Uplus is a subsidiary of the , with holding a 37.66% stake as the largest shareholder, followed by the at 7.02% and the general public owning approximately 31%. The company's shares are publicly traded on the under the KRX:032640, with a of approximately 6.43 trillion KRW as of early November 2025, reflecting its position in the sector. The company operates through several core divisions, including wireless services featuring a network utilizing the 3.5 GHz frequency band (n78, specifically 3.42–3.5 GHz). Its fixed-line provides traditional voice services, while the division offers U+Home fiber-optic internet with high-speed connectivity. Additionally, the media division delivers U+TV, an IPTV platform integrating video-on-demand and live broadcasting. LG Uplus maintains primarily domestic operations in but supports international through various global partnerships for enhanced connectivity. The company also facilitates content distribution across and beyond via its international (CDN) service, which includes points of presence in key regions. In sustainability efforts, LG Uplus has invested in green data centers, including the eco-friendly Pyeongchon Mega Center and Pyeongchon Center 2, which emphasize and , contributing to a renewable energy usage ratio of 0.0794 through facilities and optimized . The company is advancing energy-efficient and future network technologies, such as testing the All-Photonic Transport Network in to reduce power consumption in high-density deployments. These initiatives align with LG Uplus's commitment to carbon neutrality by 2050, validated under the .

History

Founding and early development (1996–2009)

LG Uplus traces its origins to LG Telecom, which was established in 1996 by the Group as a mobile telecommunications provider to capitalize on South Korea's emerging cellular market. The company was formed to leverage LG's expertise in electronics and manufacturing, aiming to compete in the rapidly growing wireless sector dominated by state-backed incumbents. In 1997, LG Telecom secured a Personal Communications Services () license based on (CDMA) technology, enabling it to launch commercial mobile services that year, initially targeting urban business users with voice-centric offerings. Early development focused on technological upgrades and amid fierce competition from and , which held larger market shares and nationwide infrastructure. LG Telecom introduced South Korea's first cdmaOne data service in 1998, allowing basic and short messaging, which helped differentiate it in a voice-dominated landscape. By concentrating on urban coverage and affordable basic voice and data plans, the company built a loyal customer base in metropolitan areas like , though it faced challenges in rural expansion due to limited spectrum and capital compared to rivals. Subscriber numbers grew steadily, reflecting the overall boom in mobile adoption, but LG Telecom remained the third-largest operator. A key milestone came in 2007 with the rollout of services using EV-DO Rev. A, enhancing data speeds and enabling multimedia applications that positioned Telecom for future convergence. By , the company had approximately 8.7 million subscribers, solidifying its viability despite ongoing competitive pressures. During this period, Telecom operated independently from Group's other telecom arms, including Dacom for and Powercom for fixed-line services, maintaining separate entities to focus on distinct market segments without integration.

Mergers, rebranding, and expansion (2010–present)

In January 2010, LG Telecom completed its merger with affiliates LG Dacom and LG Powercom, forming a unified entity temporarily named Combined LG Telecom, which integrated mobile, broadband, and enterprise services to position the company as a comprehensive provider in . On July 1, 2010, the company rebranded to LG U+, adopting the "U+" logo to symbolize a unified across its diverse offerings, emphasizing of wired and technologies. LG U+ accelerated its expansion with the launch of LTE services in July 2011, expanding coverage to 84 cities by the end of the year, enabling high-speed mobile broadband and laying the foundation for data-centric growth. The company further advanced in April 2019 by commercializing 5G services alongside other major Korean carriers, marking one of the earliest global rollouts of the technology for consumer use. In 2020, LG U+ transitioned to standalone 5G architecture, completing key tests for high-quality voice and data services on a fully independent 5G core network, enhancing performance and scalability. By 2023, the company integrated AI and smart home technologies, such as the GiGA Genie AI assistant for device control and partnerships for IoT security solutions like My Home Guard, boosting non-mobile revenue streams. Recent initiatives include the October 2022 establishment of Studio X+U, an in-house content production arm dedicated to original video programming for LG U+'s TV platform, aiming to diversify entertainment offerings and user engagement. In 2024, LG U+ formed partnerships, including with DeepX for chip , to optimize network operations through -driven automation and efficiency improvements. By Q3 2025, total subscriptions exceeded 30 million for the first time, with handset penetration reaching 81.6% and surpassing 9 million subscribers, reflecting sustained adoption. Strategically, LG U+ has shifted emphasis toward non- revenues, such as solutions and services, to counter decelerating traditional voice revenues, with investments increasing by up to 40% in 2024 to support this pivot.

Services

Mobile and wireless services

LG Uplus provides comprehensive mobile and wireless services centered on high-speed -Advanced (LTE-A) and networks, catering to both consumer and business needs in . The company launched its service in July 2011, marking an early adoption of advanced technology. Its offerings utilize the 3.5 GHz frequency band (n78) for mid-band coverage, enabling widespread deployment with a of speed and range. Since 2020, LG Uplus has implemented a standalone (SA) architecture, which separates the core from legacy infrastructure to support enhanced features like ultra-reliable low-latency communication. Core consumer plans include unlimited data options starting at 50,000 KRW per month, providing flexible tiers with varying speeds and additional perks such as international calling minutes. Following Q3 2025, LG Uplus continued to expand coverage and enterprise solutions, with ongoing investments in AI-driven network optimization. A key innovation in LG Uplus's wireless portfolio is its 5G fixed wireless access (FWA), launching commercial service in 2019 to deliver high-speed broadband to fixed locations without traditional cabling. By 2024, the company advanced its network capabilities with AI-enhanced slicing technology, optimizing resource allocation for low-latency applications like online gaming and (AR), ensuring prioritized and reduced delays for premium users. As of the third quarter of 2025, LG Uplus served approximately 21.2 million MNO mobile subscribers (with total subscriptions including MVNOs reaching 30.3 million), and 5G penetration among MNO subscribers reached 81.6%, reflecting strong adoption driven by competitive pricing and network expansions. The operator maintains roaming partnerships with global carriers, including and , to offer seamless international connectivity and 5G roaming in key markets. Handset bundles form a significant part of its strategy, featuring exclusive deals on and devices bundled with access to U+ , such as streaming services and premium apps, to enhance user retention and cross-sell opportunities.

Fixed-line, broadband, and IPTV

LG Uplus offers fixed-line telephony services under the U+ brand, encompassing both traditional voice lines and Voice over Internet Protocol (VoIP) solutions, which were acquired through the 2010 merger of LG Telecom with LG Dacom and LG Powercom to expand into operations. These services enable seamless with offerings, allowing unified billing for customers across fixed and wireless platforms. The company's broadband services are delivered via the U+Home fiber-optic platform, providing high-speed internet connectivity with maximum download and upload speeds reaching 10 Gbps in supported areas. U+Home covers major urban centers across , leveraging a nationwide fiber-to-the-home (FTTH) network that originated from the 2010 merger and has since been upgraded for enhanced reliability. In 2023, LG Uplus introduced smart home bundles integrated with U+Home, including security cameras and sensors for remote monitoring, aimed at single-person households and families. These bundles facilitate device interoperability with platforms like and , enhancing . LG Uplus's IPTV service, U+TV, delivers over 270 live channels alongside on-demand video content and streaming capabilities, accessible via set-top boxes or mobile apps. The platform supports assistant integration through the company's agent ixi, enabling natural language searches, personalized recommendations, and real-time interactions for content navigation. In 2024, U+TV incorporated advanced features like chatbots and automated subtitles to improve . Supporting these services is LG Uplus's extensive FTTH , which spans the country and stems from the integration of legacy networks during the 2010 merger. Recent upgrades in 2025 include the rollout of 7-compatible routers, achieving peak speeds of up to 4.9 Gbps in residential trials and improving multi-device connectivity for and IPTV delivery. This fixed-line network also aids in offloading traffic, optimizing overall service efficiency.

Digital media and enterprise solutions

LG Uplus's digital media offerings center on the U+ Mobile TV app, which provides of channels, video-on-demand (VOD) content, and access to original dramas produced through its in-house studio. The app integrates exclusive programming, including , foreign dramas, and animations, enhancing user engagement with customized recommendations. Launched in 2022, Studio X+U serves as the dedicated content production arm, focusing on and for the , such as series and short-form dramas. The service emphasizes partnerships to enrich its library, collaborating with platforms like for K-drama productions and sports broadcasters for live events, including Korean baseball leagues. AI-driven tailors suggestions based on viewing habits, improving user satisfaction through hyper-personalized recommendations integrated into the and related IPTV services. In 2024, LG Uplus expanded its streaming reach globally, targeting overseas audiences with K- distribution, building on the U+ branding established in for converged services. The platform aims for 10 million users by 2025 through bundled subscriptions like U-Dok, which incorporates mobile TV access. In enterprise solutions, LG Uplus delivers B2B cloud services via collaborations with providers like , enabling secure and sovereign infrastructure for Korean businesses. Cybersecurity offerings have been bolstered following incidents, with the company tripling its budget in 2025 to enhance and for corporate clients. 5G networks support industry-specific applications, such as secure for railway operations and factory . For manufacturing, these networks integrate IoT solutions to enable factories, including real-time and via -enabled devices. In 2025, LG Uplus advanced its initiatives with a focused enterprise strategy, targeting significant B2B revenue growth through data centers and on-device applications, supported by dedicated development efforts. Non-mobile services, including these enterprise offerings, contributed substantially to revenue in 2024, with service revenue reaching 11.8 trillion KRW out of total operating revenue of 14.6 trillion KRW, driven by contracts in and .

Corporate affairs

Leadership and governance

LG Uplus is currently led by CEO Bum-shik, who took office in 2024, succeeding Hwang Hyeon-sik, who held the position since 2021. , formerly head of corporate strategy at Corp., is driving the company's focus on transformation, expansion, and digital infrastructure development. As a of , the leadership maintains alignment with the parent company's overarching strategic priorities. Key executives support this vision, including Yeo Myung-hee, who as of 2025 oversees financial operations and presented the Q3 2025 earnings results, emphasizing revenue growth and cost management. The , , leads efforts in -enhanced networks, including innovations in on-device for security and service delivery. The company's structure features a comprising inside and outside members, with four independent directors who also serve on the to promote and . This composition ensures compliance with listing requirements, including mandatory outside director representation for oversight of major decisions. In 2021, LG Uplus established an committee under the board to guide sustainability policies and annual reporting on matters. Leadership has advanced ethical AI practices, notably through obtaining ISO/IEC 42001 certification in 2025 for responsible AI management systems, which includes risk assessment and ethical deployment guidelines. In November 2025, CEO Hong Bum-shik hosted the Corporate Partner Convention to outline the 2025 growth vision, fostering collaborations for accelerated mutual development in and .

Subsidiaries and partnerships

LG Uplus maintains a focused portfolio of subsidiaries that enhance its content production and digital innovation capabilities. In October 2022, the company established Studio X+U as a dedicated content production arm, specializing in mid-form dramas, entertainment series, and original programming for its U+ Mobile TV platform. This subsidiary has produced notable titles, including adaptations of Naver Webtoons and originals featuring prominent actors, contributing to LG Uplus's expansion in digital media offerings. The company has pursued strategic partnerships to bolster its technological infrastructure and service ecosystem. LG Uplus has maintained a long-standing collaboration with Samsung Electronics on 5G development and deployment, including a 2015 memorandum of understanding for joint research on next-generation spectrum and full-dimension MIMO technologies, as well as ongoing integrations for AI-powered smartphones launched in South Korea in 2024. In 2023, LG Uplus formed a joint venture with Kakao Mobility to develop electric vehicle charging infrastructure, merging LG Uplus's communication networks with Kakao's mobility platform, including navigation services via KakaoMap, with operations commencing in 2024 under the name LG U+ Bolt Up. For network advancements, LG Uplus has deepened global alliances with , verifying Cloud RAN architecture and AI-driven automation technologies in 2025 to support upgrades and industrial applications. Additionally, in 2025, LG Uplus partnered with LG CNS and on AI-based cooling solutions, aiming to reduce energy consumption through joint verification projects within the LG Group ecosystem. These collaborations have driven growth in LG Uplus's enterprise segment, contributing to overall service revenues increasing 4.2% year-over-year in Q3 2025.

Financial performance

Historical trends

LG Uplus, originally founded as in 1996, experienced significant revenue growth in its early years, expanding from approximately 1.85 trillion KRW in 2000 to around 11.8 trillion KRW by 2010 following the merger with LG Dacom. This period was marked by operating profit volatility, primarily driven by heavy investments in network infrastructure, which led to periods of losses and fluctuating margins as the company built out its mobile services amid intense competition in South Korea's telecom market. From 2011 to 2022, LG Uplus demonstrated a steady increase, reaching 13.9 KRW by 2022, accompanied by an operating of over 1 KRW for the first time. A key driver of this growth was the shift in composition from voice services, which accounted for about 60% of in , to data services, comprising roughly 70% by 2022, reflecting the broader industry transition to mobile and high-speed connectivity. Over the 2010–2022 period, LG Uplus maintained an average (ROCE) of approximately 7%, indicating moderate efficiency in generating returns from invested . The company's stabilized at around 0.5 following 2015, supported by improved cash flows and reduced after initial post-merger adjustments. Influencing these trends were substantial capital expenditures for deployment, which peaked at 2.6 trillion KRW in to expand coverage and . Additionally, the spurred a surge in demand during –2021, boosting fixed-line and IPTV subscriptions as and online activities increased.

Recent results (2023–2025)

In 2023, LG Uplus recorded consolidated revenue of 14.37 trillion KRW and an operating profit of 998 billion KRW, reflecting steady growth in its core operations amid increased capital expenditures. The company ended the year with 7.04 million subscribers, marking significant adoption of its next-generation mobile network services. For 2024, revenue rose 1.76% year-over-year to 14.63 trillion KRW, supported by expansions in and services, while net profit reached 352.9 billion KRW, down from the prior year due to higher investments. Capital expenditures totaled 1.92 trillion KRW, with a notable portion allocated to infrastructure enhancements, including ramped-up investments of 30-40% over 2023 levels to bolster solutions and data centers. In Q3 2025, LG Uplus achieved consolidated revenue of 4.01 trillion KRW, representing 5.5% growth year-over-year, driven by strong performance in mobile services and smart home offerings. However, operating income declined to 161.7 billion KRW from 246 billion KRW in Q3 2024, primarily due to one-off labor costs of 150 billion KRW associated with voluntary retirement programs. Following the release, the company's stock price rose approximately 2.9% to 14,970 KRW, reflecting investor optimism around its AI-focused strategy despite the profit dip. Looking ahead, LG Uplus has set a full-year 2025 revenue target exceeding 15 trillion KRW, propelled by advancements in AI integration and smart home ecosystems, with analysts projecting around 15.52 trillion KRW. The company's (ROCE) stands at 6.5%, lagging the average of 11%, as it prioritizes long-term infrastructure builds over immediate returns.

Controversies

Cybersecurity incidents

In early 2023, LG Uplus experienced a series of cybersecurity incidents, beginning with a in January that exposed the of approximately 290,000 customers, including names, phone numbers, and addresses, due to an external attack exploiting vulnerabilities during ongoing threats. This was followed by multiple distributed denial-of-service (DDoS) attacks, including five incidents on January 29 and February 4, which disrupted internet and data services for several hours, affecting access for a significant portion of its user base. An additional leak was discovered on February 3, compromising data from another 110,000 customers. In response, LG Uplus CEO Hwang Hyeon-sik issued a public apology on February 16, acknowledging the failures in information security and service reliability. The company pledged to allocate 100 billion KRW (about $77.3 million) annually to bolster data security measures, tripling its previous cybersecurity budget to address the breaches and attacks. These events contributed to a regulatory fine of 6.8 billion KRW (approximately $5.27 million) imposed by South Korea's Personal Information Protection Commission in July 2023 for inadequate data protection practices. The 2023 incidents highlighted vulnerabilities in LG Uplus's network infrastructure, leading to temporary service outages that impacted mobile and broadband users across , though exact subscriber numbers affected by the DDoS disruptions were not publicly quantified beyond the data exposures. To mitigate future risks, the company expanded its cybersecurity team from 157 personnel in 2023 to 293 in and implemented enhanced monitoring protocols. In October 2025, LG Uplus reported another major cybersecurity incident to the Korea Internet & Security Agency (KISA), confirming unauthorized access to approximately 8,938 servers, 42,256 accounts, and 167 employee records, attributed to threat actors potentially linked to or . This breach, detected after initial denials and following similar attacks on competitors and , marked the third high-profile incident among South Korea's major telecoms in six months. In response, LG Uplus committed to a five-year of 700 billion KRW (about $503 million) in cybersecurity, including AI-powered threat detection tools and annual black-box penetration testing with external white-hat hackers. The company also partnered with KISA and the National Police Agency to deploy AI-based solutions for analyzing and blocking malicious apps, aiming to improve and overall resilience. These measures have been credited with preventing major DDoS-scale disruptions in the intervening years, though the 2025 event underscored persistent challenges in defending against state-sponsored threats. Following the breach report, a parliamentary in October 2025 criticized LG Uplus for allegedly deleting evidence after receiving initial hack notices, and the Personal Information Protection Commission (PIPC) launched an investigation in September 2025 over delayed reporting. The financial repercussions of the 2023 incidents modestly pressured quarterly profits that year due to remediation costs and compensation efforts.

Regulatory and ethical issues

LG Uplus faced significant antitrust scrutiny from the Korea Fair Trade Commission (KFTC) in a probe initiated around 2022 into alleged among major telecom operators, including , , and LG Uplus, regarding the sharing of internal information from 2015 to 2022 to align pricing and prevent customer churn through coordinated number portability practices. The investigation culminated in March 2025 when the KFTC imposed a total fine of 114 billion KRW on the three carriers, with receiving the highest penalty of 42.7 billion KRW, LG Uplus 38.3 billion KRW, and 33 billion KRW for their roles in the anticompetitive coordination. LG Uplus and the other operators contested the decision, filing appeals that partially suspended enforcement measures by September 2025, though the core fine remained in effect. In addition to antitrust matters, LG Uplus encountered regulatory action over misleading advertising claims about its network speeds, with investigations tracing back to promotions launched around 2021 that exaggerated real-world performance. The KFTC determined in May 2023 that LG Uplus, along with and , had falsely advertised achievable speeds up to 20 Gbps, which were theoretical maxima not attainable in practical conditions, leading to a combined fine of 33.6 billion KRW across the carriers, including penalties for LG Uplus' specific 2.1 Gbps claims. The company voluntarily corrected its advertisements following the probe and accepted the sanctions without appeal, marking a minor but notable ethical lapse in consumer transparency. On the ethical front, LG Uplus grappled with labor disputes in 2024 and 2025 centered on voluntary early programs amid broader pressures for . The company introduced a package in July 2025 targeting employees aged 50 and older, offering up to three times annual salary, which sparked concerns over adequacy and fairness, leading to protracted negotiations that highlighted tensions in staff transitions due to business shifts. These disputes contributed to one-off labor costs of 150 billion KRW that drove a 34.3% year-on-year drop in consolidated operating profit for Q3 2025. Ultimately, the negotiations resulted in enhanced benefits, including improved severance terms and commitments to reemployment options, resolving the by late 2025 and underscoring ongoing ethical challenges in employee . LG Uplus maintains adherence to South Korea's , implementing robust policies to safeguard user in its and digital services, as outlined in its official compliance framework updated in 2024. In response to 2025 amendments under and the new Framework Act on the Development of , which emphasize ethical handling and risk-based protections for high-impact systems, LG Uplus updated its internal guidelines to incorporate privacy-by-design principles for applications, such as enhanced consent mechanisms and minimization in training models. These measures align with national directives from the Personal Information Protection Commission (PIPC) to prevent unauthorized use in , though the company faced separate PIPC scrutiny in 2025 for unrelated compliance lapses, distinct from cybersecurity incidents.

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