With the acquisition of CJ Hello, a cable TV operator, LG Uplus said it will invest 2.6 trillion won in telecommunications and broadcasting contents over the next five years.
LG Uplus Vice Chairman Ha Hyun-hoi announced mid- and long-term investment plans to create 5G ecosystems and discover differentiated services at regular meetings with major management officials on Nov. 18.
LG Uplus announced that it would invest twice as much this time as its annual investment in related fields over the past five years.
Major areas of investment include finding and nurturing 5G innovative contents such as virtual reality and augmented reality (VR and AR), developing communication and broadcasting convergence media platform services and related technologies, and stabilizing the quality of cable services.
"The cable industry is experiencing difficulties not only in upgrading its network but also in finding innovative services and contents," said Vice Chairman Ha. "After completing successful acquisition of CJ Hello, let's secure environment and related technologies so that LG Uplus can provide innovative contents and services to its cable TV customers."
After acquiring CJ Hello, LG Uplus is preparing to increase its competitive edge in cable platforms such as increasing number of one-way digital service (8VSB) channels for subscribers of analog cable, upgrading quality of digital TV HD, and co-production of 5G contents.
It will also apply VR and AR-based real-life contents to TV platforms as well as mobile devices starting from next year. It is also planning to accelerate development and excavation of 5G contents such as AR and VR as it expects that number of 5G subscribers will reach 10 million next year.