Hwang Hyun-sik, LGU+ President: "Discussion Needed on Transition Support Fund... Burden from Corporate Perspective"

[Image source=Yonhap News]

Hwang Hyun-sik, President of LG Uplus (photo), stated that "a discussion process is necessary" regarding the number portability switching subsidy, a hot topic in the telecommunications industry.

On the 21st, after the shareholders' meeting held at the LG Uplus Yongsan headquarters in Yongsan-gu, Seoul, President Hwang told reporters, "There are both positive and negative aspects, so I hope there will be a review process," referring to the issue.

He explained, "I think there is a risk that the national communication costs could increase if things go wrong," adding, "From a corporate perspective, it would be a significant financial burden."

This is interpreted as concerns over side effects such as increased actual communication expenses due to the loss of long-term subscriber benefits when switching carriers after receiving the number portability subsidy, or 'phoneflation,' where only expensive phones are preferred.

Regarding the Internet of Things (IoT) business, President Hwang said, "If on-device AI becomes more active, its importance might increase," and predicted, "The core of the corporate sector business will likely be intelligent Internet of Things (AIoT)."

About the first quarter earnings outlook, he said, "It does not seem positive due to various reasons," and regarding the sports platform Spoky business strategy, he stated, "Shouldn't we focus more on services that can be offered to customers even without (baseball) broadcasts?"

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