LG Uplus Corp.’s logo at its headquarters building in Seoul. (Yonhap)
SEOUL, May 11 (Korea Bizwire) — LG Uplus Corp., a major South Korean telecom operator, said Tuesday it will invest more than 300 billion won (US$267.9 million) to build a new internet data center amid growing user demand.
The company said in a regulatory filing that it will invest 318.1 billion won for a new internet data center from June 1 until Dec. 31, 2023.
The move comes after LG Uplus CEO Hwang Hyeon-sik vowed earlier this year to focus on new businesses aimed at corporate customers.
LG Uplus currently operates four internet data centers — three in southern Seoul and one in Anyang, 23 kilometers south of the capital — according to a company spokesperson.
For all of last year, sales from the company’s internet data center business stood at 228 billion won, up 16.1 percent from the previous year.
(Yonhap)
