[Concall] LGU+ "Aiming to be a Top 3 Player in the Electric Vehicle Charging Market Within 3 Years"

Kwon Yong-hyun, Chief Strategy Officer (CSO) of LG Uplus, stated during the Q2 earnings conference call on the 8th, "To ensure continuous growth in the electric vehicle charging business, LG Uplus and Kakao Mobility will each invest 25 billion KRW to establish a joint venture worth a total of 50 billion KRW. LG Uplus will acquire 50% plus one share of the total issued shares, while Kakao Mobility will acquire the remaining shares, making the joint venture a subsidiary under LG Uplus' consolidated entities."

CSO Kwon added, "In the key value chain of the electric vehicle charging business, LG Uplus will play the role of CPO. Excluding charger manufacturing, we plan to expand the business into areas such as installation, operation, billing, and other value-creating segments thereafter. We aim to establish a slow charging market in nationwide multi-family housing and eventually expand into the fast charging market." He also stated, "We will actively pursue the goal of becoming one of the top three domestic charging market operators within the next three years."