LG Uplus announced on March 22 that the mobile carrier has forged a strategic alliance with Hong Kong PCCW Group and will supply 5G virtual reality (VR) content to Hong Kong Telecom, the No. 1 telecom operator in Hong Kong with 4.3 million subscribers.
Officials of the companies exchanged the MOU through email as they were unable to meet or hold official events such as a signing ceremony due to the COVID-19 outbreak. The two companies have been negotiating content supply since PCCW head Janis Lee's visit to Korea at the end of last year. As the COVID-19 virus made it difficult to take overseas business trips, they signed an online contract through conference calls and video conferences.
Hong Kong Telecom, a subsidiary of PCCW Group, is a leading carrier in Hong Kong with 33.3 billion Hong Kong dollars in annual revenue. The company offers services in 3,000 cities in 140 countries including China and Hong Kong.
Under this partnership, LG Uplus will first provide a total of 120 items of VR content, including K-Pop music broadcasting being provided in Korea, to Hong Kong Telecom, which is scheduled to launch commercial 5G services next month. The two companies laid the foundation for a leadership in the 5G global market through service and technology synergies.