LG Uplus and Woori Bank Collaborate on MVNO Business... "Developing Financial Communication Products"

MVNO Business Entry Partnership
"We Will Discover Differentiated Services"

On the 10th, LG Uplus signed a 'Business Agreement for MVNO Business Cooperation' with Woori Bank at Woori Bank's headquarters in Jung-gu, Seoul.

At the business agreement ceremony held on the 10th at the Woori Bank headquarters in Jung-gu, Seoul, Hwang Hyun-sik, CEO of LG Uplus (right), and Cho Byung-kyu, President of Woori Bank, are taking a commemorative photo.
[Photo by LG Uplus]

Recently, Woori Bank selected LG Uplus as its telecommunications business partner to enter the MVNO (Mobile Virtual Network Operator) market. Since then, the two companies have established a joint task force (TF) aiming to launch the business within the year and are conducting detailed business consultations.

Through the agreement, the two companies plan to cooperate to support Woori Bank's entry into the MVNO market by ▲ developing differentiated financial-telecommunication products and services to acquire new customers ▲ timely establishment and stable operation of the MVNO system ▲ creating a sustainable collaboration model.

An LG Uplus official stated, "We will help Woori Bank expand its main financial customer base through telecommunications and continuously discover differentiated customer convenience services," adding, "We will focus on our role as a digital partner targeting the digital demographic that Woori Bank aims for."

A representative from Woori Bank's Digital Strategy Group said, "We will work closely with LG Uplus to provide better telecommunication services combined with finance to Woori Bank's financial customers."