LG Uplus Reports Over 80% Increase in Q3 Operating Profit

LG Uplus Corp., a leading mobile carrier in South Korea, has reported a significant increase in its operating profit for the third quarter of the year. The company stated that its operating profit rose by 84.1% compared to the same period last year, reaching 297.6 billion won (approximately $22.1 million).

The growth in profit is attributed to a combination of a favorable base effect and ongoing efforts to streamline business operations. Despite this impressive profit increase, LG Uplus experienced a slight decline in sales, which fell by 0.7% year-on-year to 3.98 trillion won.

In terms of business segments, the mobile service unit saw a decrease in sales by 0.9%, while the smart home division, which includes internet and IPTV services, experienced a growth of 2.9%. Notably, the corporate infrastructure unit's sales surged by 10.4%, largely driven by the growth in its artificial intelligence (AI) data center business, which expanded by 27.7%.

LG Uplus is currently investing in building a 200-megawatt AI data center in Paju, north of Seoul, with plans for phased commercial operations starting by 2028. The company's capital expenditures for the quarter also increased by 30.1% year-on-year, reaching 569.8 billion won, reflecting its commitment to expanding its AI capabilities.