BUSINESS

LG Uplus’ CEO creates new biz unit for growth

By Song Su-hyun
  • Published : Nov 29, 2020 - 14:23
  • Updated : Nov 29, 2020 - 14:47

CEO Hwang Hyun-sik (LG Uplus)
LG Uplus, the third-biggest mobile carrier by subscriptions in South Korea, said Sunday that it has created a division for new businesses that it hopes will propel the company’s growth.

The telecom company said it has decided to combine small business units scattered across the organization -- covering areas ranging from smart health to security, education, advertising and data -- and form one group that will be the carrier’s core unit for new growth.

It was part of the first organizational restructuring by the mobile carrier’s new Chief Executive Officer Hwang Hyun-sik.

“The new group will make those business areas more specialized and discover new growth opportunities to create profits,” a company official explained.

LG Uplus also added a new group for customer satisfaction and quality innovation within the CEO’s office with the aim of grasping customers’ pain points and addressing them swiftly.

“Creation of the two units represents CEO Hwang Hyun-sik’s strong determination to find new growth engines for the telecom business and focus on customer services,” the official said.

The company’s consumer business division will be renamed the “media content business group” and the mobile and home services divisions will be incorporated into a single group, which suggests that LG Uplus will concentrate further on the media and content business.

“The carrier will try to offer differentiated content, considering that the competition for content would be more intensifying as more over-the-top services are expected to enter the Korean market,” the official said.

LG Uplus’ corporate division will focus on business-to-business transactions on 5G, while seeking new opportunities in business areas related to the government-led New Deal initiative.

By Song Su-hyun (song@heraldcorp.com)


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