"An Expert Who Knows the Core Business"… LG Uplus Chooses 'Tongsintong' Hwang Hyun-sik

[Asia Economy Reporter Seolgina Jo] Hwang Hyun-sik, appointed as the new head of LG Uplus, is a 'telecom expert' and 'sales expert' who has worked across wireless business and sales strategies for over 20 years since the LG Telecom days. This appointment carries LG Group's message of driving change and innovation in the 5G era market landscape by putting forward a telecommunications specialist who knows the core business best.

According to LG Uplus on the 26th, Hwang, who was appointed as the new CEO at the board meeting held the previous afternoon, will officially take office after going through the board and shareholders' meeting procedures next year. This is the first time that a CEO has been promoted from within LG Uplus.

Under Hwang Hyun-sik's leadership, LG Uplus is expected to focus on growing its telecommunications business while discovering new growth opportunities through expanding convergence businesses and new B2B (business-to-business) ventures. Just as the company narrowed the gap with competitors by being the first in the industry to build a nationwide LTE network during the LTE era, the strategy now is to create a new structure in the 5G era. The mobile telecommunications market share structure, which was 5:3:2 just a few years ago, has now been reorganized into 4:3:3.

Unlike competitors who emphasize 탈(脫)telecom diversification, Hwang, a 'telecom expert,' is expected to pursue an aggressive sales strategy focusing relatively more on the core business. In this process, the segmented customer strategies and customized services led by the Consumer Business Group under Hwang's leadership, targeting groups such as pet families (petfam) and newlyweds, are also expected to expand.

Hwang, who hails from LG Telecom, the predecessor of LG Uplus, joined the company in 1999 and has held positions such as Head of Gangnam Business Division and Sales Strategy Officer, gaining extensive experience in B2C (business-to-consumer) sales and sales strategies. Above all, he is regarded as a figure who has injected fighting power toward making LG Uplus the number one by consecutively serving as Head of the Personal Customer Division (PS), considered a tough area for the third-ranked LG Uplus, and as President of the Consumer Business Division.

As the first internally promoted CEO, Hwang's deep knowledge of LG Uplus sets him apart from former CEOs who came from affiliate companies like Vice Chairmen Kwon Young-soo and Ha Hyun-hoe, or bureaucratic backgrounds like Vice Chairman Lee Sang-chul. Inside the company, he is praised for his gentle leadership and strong trust from both seniors and juniors as well as the group.

Yesterday afternoon, Hwang represented LG Uplus at an artificial intelligence (AI) related event attended by President Moon Jae-in, standing shoulder to shoulder with CEOs of domestic ICT companies such as KT and Naver, marking the start of his external activities.