[Relay Interview③] "The Largest Direct Investment in 5G Content Industry... 12.6 Billion Won Exported This Year"

Relay Interview with the Commanders of Realistic Media at the Three Major Telecom Companies
③ Choi Yoonho, Head of AR and VR Services at LG Uplus

The day when business meetings are held via holograms like in the movie 'Kingsman' is not far off. Now, without traveling abroad, people can meet foreign teachers in virtual spaces to study languages and even hold sports cheering events with avatar friends. The era when virtual worlds transcending time and space become commonplace is approaching. Asia Economy met with the leaders of the three major telecom companies leading the immersive media strategies such as augmented reality (AR) and virtual reality (VR) to hear each company's strategy.

Choi Yoon-ho, Executive Director in charge of ARㆍVR services at LG Uplus, is holding the 5G AR glasses 'U+ Real Glass' launched last August to secure leadership in the augmented reality (AR) market and explaining about it.

[Asia Economy Reporter Joeslgina] "The biggest strength is that we have many original contents that we invested in directly. We don’t just sell others’ content. That is why export is also possible."

Yoonho Choi, Executive Director in charge of AR and VR services leading LG Uplus’s immersive media strategy, spoke with confidence. It has already been three years since they began large-scale content investment alongside preparations for the commercialization of 5G mobile communications. The true value is now shining. This year alone, they achieved 12.6 billion KRW in 5G content exports, far exceeding the annual target of 8 billion KRW. When we met Executive Director Choi near the Yongsan headquarters on the afternoon of the 16th, he said, "Soon, export contracts with Southeast Asia will also be finalized," adding, "Next year, we will set even bigger goals."

LG Uplus, ranked third in the domestic mobile telecommunications market, has received industry-wide recognition for leading the 5G content field, supported by company-wide investments. This is directly linked to Vice Chairman Hyun-hoe Ha’s special order to "not lose leadership in augmented reality (AR) and virtual reality (VR)." Executive Director Choi explained, "While preparing for 5G commercialization, LG Uplus immediately took leadership in both content and platform," adding, "The significant investments have led to exports and more." Currently, LG Uplus’s AR and VR content each number about 2,500 and 2,300 titles respectively, the largest in the industry and showing double-digit growth compared to the beginning of the year.

They did not stop at simply producing a large amount of content. The global 5G content alliance 'XR Alliance,' led by LG Uplus, is a prime example. From the content production stage, they have involved overseas companies such as Qualcomm, revealing their ambition to lead and expand the global ecosystem.

Executive Director Choi said, "The first project of the XR Alliance, 'ISS Experience,' created in cooperation with NASA, will release its first episode at the end of this month," and predicted, "There will be a total of 4 to 5 episodes." This content, which captures actual spacewalk footage filmed in space for the first time in 3D VR, cost about 9.6 billion KRW to produce. In Korea, it is only available on the U+VR application used by LG Uplus 5G subscribers.

Executive Director Choi added, "Soon, several companies including American telecom firms will join the XR Alliance," and said, "We are also in contact with film companies as partners." He continued, "We will keep producing good content," and added, "For example, we could produce content that allows people to watch famous movies like 'Spider-Man' and 'Iron Man' in short VR formats."

Since the outbreak of COVID-19, LG Uplus has focused on producing non-face-to-face content such as K-pop, kids’ education, and performance content. Executive Director Choi said, "We will continue to focus on these areas next year," and explained, "So far, content has been provided more as a service to 5G subscribers rather than for profitability, but we will establish a business model within next year." He also expressed regret that export discussions had been halted due to the COVID-19 impact, saying, "Next year, we will achieve export results not only in Asia but also in Europe."

This content was produced with the assistance of AI translation services.