LG Uplus, 'NH Kok Bank' MVNO Reaches 12,000 Subscribers... Prize Event

LG Uplus Network 'Iyagi Mobile'
Subscribers Surpass 12,000 in 6 Months

[Asia Economy Reporter Cha Min-young] The number of subscribers to budget phone products through the mobile banking application (app) ‘NH Kok Bank’ has surpassed 12,000, and LG Uplus announced on the 9th that it will strengthen cooperation with NongHyup Central Cooperative Mutual Finance.

NH Kok Bank is the first voice recognition mobile banking app in Korea, launched by NongHyup Central Cooperative Mutual Finance in 2016. LG Uplus and NongHyup Central Cooperative Mutual Finance signed a business agreement to revitalize NH Kok Bank and launched the NH Kok Bank budget phone plans last September.

Through NH Kok Bank, customers can subscribe to five types of Iyagi Mobile plans, which operate by leasing LG Uplus’s network. The number of budget phone subscribers through NH Kok Bank has surpassed 12,000 within six months of service launch, showing smooth progress. This is about twice as fast as initially expected. It was found that customers in their 20s and 30s account for 62% of the total.

LG Uplus is also holding a prize draw event for customers who subscribe to budget phones through NH Kok Bank. During March, customers who subscribe to one of the NH Kok 100 minutes 15GB+, NH Kok Unlimited 11GB+, or NH Kok Daily 5GB+ plans will be entered into a draw to win prizes including LG Styler, LG StanbyMe, LG CordZero, and Starbucks dessert sets, with a total of 160 winners.

The discount promotion on plans will also be extended. NH Kok Bank budget phone subscribers can use NH Kok 100 minutes 500MB (blocked type) for 3,630 KRW, NH Kok 200 minutes 5GB+ for 16,100 KRW until cancellation, and NH Kok 100 minutes 15GB for 16,500 KRW, NH Kok Unlimited 11GB for 24,200 KRW, and NH Kok Daily 5GB for 31,900 KRW for 24 months.

LG Uplus plans to expand cooperation by developing new products linking finance and telecommunications with NongHyup and will continue to review sales channel options for small and medium budget phone operators.

Meanwhile, LG Uplus has been making continuous efforts for mutual growth with small and medium budget phone operators, starting with the launch of the budget phone operator alliance website ‘U+ Budget Phone Partners’ in 2019, the release of ‘One Chip,’ and the opening of the offline store ‘Budget Phone+.’

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