LG U+ announced on June 11 that it has signed a contract with Taiwan's largest telecommunication company, Chunghwa Telecom, to export 5G VR contents.
This year's export is the fourth after China Telecom, Hong Kong Telecom, and Japan's KDDI in October last year, and 5G content exports have reached $10 million so far.
The U+VR, LG U+'s export pioneer, is a 5G platform that allows users to enjoy more than 1,500 VR contents, including K-pop performances, games, cartoons, live sports, movies and travel, with 3D and 4K UHD resolution.
It will supply 5G technologies such as 180 K-pop-oriented VR contents and multi-views of U+VR to Chunghwa Telecom.
The contract was conducted as a video conference call considering the current situation, which has difficulty in face-to-face meetings due to a new type of coronavirus infection (COVID-19).
Kim Joon-hyung, managing director of 5G service group at Magok office in Seoul, Choi Yoon-ho, managing director of AR/VR services, and Chunghwa Telecom's mobile business unit in Taipei, Taiwan, held a teleconference and completed the signing of the contract.
Ahead of commercialization of 5G in July, three companies - Taiwan Mobile, FET (Far EasTone) and Chunghwa Telecom, are competing to dominate the market.
Chunghwa Telecom is Taiwan's largest integrated telecommunications service company that provides mobile, Internet and other wired services. This company actively expressed interest in differentiated 5G contents and services of LG U+ among Taiwanese telecommunication companies and sent a large number of people related to product and technology development to LG U+ in January this year, and conducted a close investigation by visiting AR/VR content experience and 5G content production studios.
The two companies are selecting KPOP VR contents as the most suitable service for Taiwan's 5G market and preparing to provide contents in time for release of their 5G services.
In addition to supplying 5G contents that have already been produced, both companies will continue to update and provide KPOP contents that are currently being broadcast in Korea.
It is also planning to establish a close cooperation system by sharing various VR know-how of LG U+ in real time so that Chunghwa Telecom can realize the best quality of 5G service.
Meanwhile, LG U+ is pushing to export its differentiated 5G contents and solutions to foreign telecommunication companies by making 2020 the first year of 5G exports. Even though it is difficult to proceed with export negotiations owing to COVID-19 this year, it is expecting its 5G export contracts to Southeast Asian and European telecommunication companies to bear fruit soon.
"About 30 foreign telecommunication companies that visited LG U+ are showing a lot of interest in U+5G," said Choi Yoon-ho, managing director of AR/VR services at LG U+. "LG U+ will raise the level of 5G services that have strengths by one notch to make 2020 the first year that will expand into 5G global markets."
"The partnership with innovative industry leader LG U+ will link Taiwan to a wider global 5G entertainment industry," said the head of Chunghwa Telecom's mobile business unit. "We plan to further develop the VR and multi-angle concert market to provide consumers with new digital entertainment services that meet diverse needs."