LG Uplus CEO to fly to Vegas for CES

By Lee Min-hyung

LG Uplus Vice Chairman and CEO Kwon Young-soo plans to visit the world’s largest technology tradeshow next year, in a move to find emerging growth engines for the firm’s telecom business, the mobile carrier said Tuesday.

His trip to the Consumer Electronics Show (CES) in Las Vegas comes as the firm hopes to unearth new business opportunities by keeping track of the latest Internet of Things (IoT) trends and internet-based new smart platforms ― including artificial intelligence (AI) and connected cars.

Kwon will be accompanied by a group of 30 high-ranking corporate officials from the firm’s core future-planning divisions ― such as its IoT and mobile device units ― for his four-day visit to CES 2017, which starts Jan. 5.

“At the upcoming event, Kwon will meet managers of global ICT firms to closely consult over business partnerships,” an LG Uplus spokesman said. “His planned visit is aimed at boosting the firm’s presence in not just the global mobile device industry, but also IoT-based emerging technologies.”

Kwon took office as chief of the nation’s third-largest mobile carrier in December last year, replacing the previous CEO Lee Sang-chul.

As the conventional wireless telecommunication industry is nearing the saturation point here, Kwon has focused on realigning the company’s revenue streams in such new growth areas as home IoT and virtual reality (VR).

In particular, LG Uplus is holding the top spot in the home IoT industry here with 500,000 users. In its bid to ramp up profits in the area, the firm is actively pushing for collaborations with overseas telecom operators and ICT firms especially in China and Japan.

The company said it would introduce more smart IoT services by combining its telecom expertise and energy management. Such new IoT services are expected to serve as key building blocks for the firm to diversify its internet services into other relevant areas ― including smart gas, electricity management and home security, the company said.

The connected car is also one of the firm’s new growth engines, as the key driving force of the industry comes from expertise in establishing and managing internet and network systems. LG Uplus plans to launch a series of infotainment services, offering real-time navigation and safety alarms for drivers by connecting vehicles to its long-term-evolution (LTE) network.

As for the near future, the company also unveiled its plan to launch a new infotainment service platform by combining it with music streaming, voice recognition and home IoT.