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LG Uplus to invest over W300b to build new data center

LG Uplus Corp.'s logo is shown in this undated file image provided by the company. (LG Uplus Corp.)
LG Uplus Corp.'s logo is shown in this undated file image provided by the company. (LG Uplus Corp.)

LG Uplus Corp., a major South Korean telecom operator, said Tuesday it will invest more than 300 billion won ($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)

 

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